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14th December 2017
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This thread: Lump sum or income? and indexation options Post No.
     
13/08/2013 19:21
clive3


Post Count: 1
Join Date: 12/08/2013

 I am hoping to retire in two years’ time when I am 60 and have two key decisions to make at that time.

 I am lucky enough to still be in a final salary pension scheme and I also contribute to AVC’s each month. I expect to take all the AVC contributions as part of my 25% lump sum allowance. The scheme also includes an estimated £59,000 lump sum but I can forgo this on the basis that each £1000 left in the scheme earns £49 p.a. index linked income of which my wife would get half on my death. Which choice would be best for me given I am in no urgent need for a bigger lump sum,

I also have an option to take either, a yearly pension of £19,803 fully index linked or a higher income of £22,925 of which only £7,782 is index linked which is the better option.

Thanks

Clive

 

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