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Old 18th May 2017, 19:58   #31
myfirstrover
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In which case DO NOT consider transferring away from what is a first class scheme. It is the type of scheme that is so expensive to run because the benefits are so good that Companies in the Private Sector have had to ditch them for their employees but the Government schemes - Civil Service, NHS and Local Government schemes are funded via Taxes and so Public Sector pension schemes are still of the old, hugely beneficial sort.

Please don't think I am "having a go" - but most people do not realise that anything between 20% and 30% of what they pay in Council Tax actually goes to fund the pensions of retired ex Local Government employees.

Thus many people are paying more money into other people's pensions than they can afford to pay into their own.
I pay plenty into my pension pot , i know some civil servants don't , but I'm not that lucky !
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Old 18th May 2017, 20:17   #32
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There are that many permutations on retiring, the only thing you have to do is see what fits your own position at the time of retiring. I retired at 62, in 2002,15 years of retirement so far, and never a dull day. I was in a good pension scheme, and I took the lump sum, no tax then. My wife gets half of my pension if I kick the bucket before she does, so that was another plus. Since leaving, many of the younger employees have had the pension altered to a lesser pension, so it is important to take good advice from a professional pension advisor. I can honestly say that, luckily, we have not had to draw our horns in at all. Holidays at least twice a year,Germany comes up soon, and just got back from a holiday a week ago. I agree with the poster who said take your family hereditary into account when taking your pension. We had to fight one large pension company, when my wife was going to take her private pension. They try to fool my wife by giving eight, yes eight permutations for her pension. I worked out the one that was the best, taking hereditary conditions into account, hard work believe me. Seven of the 'examples' we're really in favour of the pension company. When my wife pointed out which 'example' she wanted, they sent a rep round to try and get her to change her mind. Wonder why? 18 yes eighteen months later getting nowher, we employed a professional person to Screw their necks, and within two months the pension my wife had chosen was being paid. No charge to us, he claimed his fee off them. I have always found that where money is involved, you need your head screwed on, otherwise you stand a chance of getting done. Get the best advice you can from the best advisor you can get. Ask plenty of questions, don't be frit.
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Old 23rd May 2017, 13:18   #33
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My thoughts are take the maximum commute you can. No one can know what the future holds and you have no certainty your pension payments will not be reduced or in some cases disappear!! it happens. You can invest/fritter away or what ever that money but its yours to .do what you want with. And if you do get a lump some consider this. Use half of it to buy a large tranch of Premium Bonds, you only have to keep them for one month or more and you could win, big. PS I'm not the Chancellor. Two people I know did this in the last 3years and both won 4figure amounts. Best of luck and remember every day your retired is a win for you and yours. Chris.S.
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Old 23rd May 2017, 22:05   #34
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My thoughts are take the maximum commute you can. No one can know what the future holds and you have no certainty your pension payments will not be reduced or in some cases disappear!! it happens. You can invest/fritter away or what ever that money but its yours to .do what you want with. And if you do get a lump some consider this. Use half of it to buy a large tranch of Premium Bonds, you only have to keep them for one month or more and you could win, big. PS I'm not the Chancellor. Two people I know did this in the last 3years and both won 4figure amounts. Best of luck and remember every day your retired is a win for you and yours. Chris.S.
I remember being told that I would find it boring being retired after having such a pressured work life. I was determined to live like it was the last day. So far, life has been a bit like a dreamtime. Luckily my health has been aok up until now. First three/four years we travelled all over the place. I have to drive because ny wife has developed Menieres so the ferry and flying is out for us. Good job I still enjoy driving. I took the 25% lump sum and enjoyed it up to the hilt. I don't intend staying in watching the square box and picking fluff out of my naval. Go out and enjoy life. You don't get a second chance Chris. Best of British to you on your retirement. .
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Old 7th June 2017, 17:30   #35
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Looks like I'm finishing work on Sunday , so no excuses for turning up to a show with a dirty car !
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Old 7th June 2017, 17:44   #36
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Looks like I'm finishing work on Sunday , so no excuses for turning up to a show with a dirty car !
John

Good luck for the future, and agreed, get the polishing cloths out.

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Old 7th June 2017, 18:02   #37
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Looks like I'm finishing work on Sunday , so no excuses for turning up to a show with a dirty car !
Brilliant news, John. I'm sure you won't regret it. I've been finished 12 years and had no regrets. Good luck.
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Old 7th June 2017, 20:06   #38
macafee2
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Looks like I'm finishing work on Sunday , so no excuses for turning up to a show with a dirty car !
lucky NAUGHTY WORD-NAUGHTY WORD-NAUGHTY WORD-. my plan is to hand in my notice August 1st 2018.

I cant see me having much down time, so much to do

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