20 Oct 2018, 09:00
20 Oct 2018, 12:24
20 Oct 2018, 14:29
Hawkey99 wrote:I think thats a real tough question to answer.
How many years until you get state pension. how much savings or AVCs do you have. Whats your lifestyle, Partners income.
Its a huge question which differs for everybody.....
20 Oct 2018, 15:03
20 Oct 2018, 15:37
20 Oct 2018, 18:15
20 Oct 2018, 18:56
20 Oct 2018, 19:41
20 Oct 2018, 19:54
that's what I saidNWpostie wrote:Its a very serious question, because I would like to know if today's pensioners are getting a good income from their pensions or not, the length of service would have bearing on the pension payouts as well.
21 Oct 2018, 07:33
21 Oct 2018, 07:49
21 Oct 2018, 08:27
baldrick wrote:I retired 5 years ago. I had planned for it, paying for added years so I got the maximum pension, 50% of pensionable pay. I converted most of my pension lump sum into pension, contrary to what most RM retirees do, as I reckoned I will probably be living on my pension until my eighties - my father lived to 86. I had taken the pension two years earlier at 60, so I had my wages plus pension for two year and that meant I could save for the first time in my life.
I took VR at 62, and got the maximum 104 weeks redundancy payment. I worked out that my savings together with the VR payment should see me through until I got the State Retirement Pension at 65. I had finished paying off my mortgage at 60.
My RM pension together with my State Pension works out at only around £80 pw less than when I was working. I have a fairly simple inexpensive lifestyle. I don't have any dependants. My only major expense is a winter holiday. I like to get away for at least 4 weeks in January/February to escape the cold and darkness here.
I haven't touched the my savings yet, and actually still add to them. So financially I think I'm ok.
21 Oct 2018, 08:53
22 Oct 2018, 11:45
NWpostie wrote:As the question has stated, since retirement do you find you're doing well on your pension money or did you have to cut back on a lot of things ?
I've been in 30 years and planning ahead, so I'm just wondering if its possible to have a life on your pension income or will you struggle, just existing on a limited income.
23 Oct 2018, 14:18
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