Jump to content
House Price Crash Forum

What to do with my pension? Telegraph article


JimDiGritz
 Share

Recommended Posts

The big difference is between final salary schemes where there is a gap in the fund or no fund at all, and money purchase schemes where there is a bucket.

A lot of the first category are bust, but the taxpayer keeps being asked to fill the gap.

Link to comment
Share on other sites

My thoughts when reading the article centred on what I could do with my savings. I'm over state pension age but still working, sort of, so income and expenditure is not a concern at the moment. Having built up a reasonable fund I'm no trying to work out how to generate an income from it.

I was appalled when I looked at annuity rates. At age 67 for a lump sum of £100k I can get a single life annuity that will give me £4000 ish for the rest of my life. So in 25 years I get my capital back. Am I likely to life to 92? I think not. With a joint life annuity including my wife, who is a smoker, the return dwindles to £3000 ish for the rest of the longest survivors life. So one of us has to live for at least 33 years to get our capital back!

Thanks, I think I'll book several cruises.

 

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
 Share

  • Recently Browsing   0 members

    • No registered users viewing this page.




×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.