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Another Age65 benefits question

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stevenw59
Posts: 5
Joined: 02 Aug 2010, 16:39
Gender: Male

Another Age65 benefits question

Post by stevenw59 »

I've just received my benefits estimate for when I turn 65 in May. After researching here I've discovered that after I take my benefits I stop paying into the plan. I've also read that there is some plan with Scottish Widows that I could be part of until I get my state pension and retire at 66. I find the whole pensions thing confusing so if someone more enlightened could point me in the right direction or just give me the pros and cons, I would be most grateful. Thanks
Jack1960
EX ROYAL MAIL
Posts: 333
Joined: 05 Jan 2016, 17:39
Gender: Male

Re: Another Age65 benefits question

Post by Jack1960 »

Yes I paid into scottish widows plan you pay 6 percent and RM 10percent..
It wasn't automatic I had to go online and download the form.
stevenw59
Posts: 5
Joined: 02 Aug 2010, 16:39
Gender: Male

Re: Another Age65 benefits question

Post by stevenw59 »

Thanks
Jack1960
EX ROYAL MAIL
Posts: 333
Joined: 05 Jan 2016, 17:39
Gender: Male

Re: Another Age65 benefits question

Post by Jack1960 »

I don't know if you carry on paying into the cash balance so it's worth looking into it as RM pay 13.6 as opposed to 10.