This was really good. Would love an updated version. I still have the question on whether I should join my company's pension scheme or invest my money somewhere else.
Actually non of this matters unless laws i.e. divorce laws are changed to ensure that in a later part of life your security cannot be touched by anyone. Everybody refers to your pension. It is not if you are married. This means if you have a wife who does not work you have to consider you pension as 50% of it's forecast value. Many do not consider this as the national divorce rates over 50 increase.
At 55 can somebody decide to run down their pension pot by taking 25% out each year tax free until the pension pot runs out? I.e on £100k (£25k year 1), £75,000 (£18,750 year 2), £56,250(£14,062 year3) and so on so forth...?
This was really good. Would love an updated version. I still have the question on whether I should join my company's pension scheme or invest my money somewhere else.
Actually non of this matters unless laws i.e. divorce laws are changed to ensure that in a later part of life your security cannot be touched by anyone. Everybody refers to your pension. It is not if you are married. This means if you have a wife who does not work you have to consider you pension as 50% of it's forecast value. Many do not consider this as the national divorce rates over 50 increase.
Or as the Pension companies called it the ‘Oh shit how are we gonna make money moment’
At 55 can somebody decide to run down their pension pot by taking 25% out each year tax free until the pension pot runs out? I.e on £100k (£25k year 1), £75,000 (£18,750 year 2), £56,250(£14,062 year3) and so on so forth...?
No just the first 25% of the pot value