WikiWirral Online with you since 2003, fantastic.
Forum Statistics
Posts1,031,207
Topics75,991
Members13,960
Forums65
Posts in last 24hrs8
Most Online14,906
Nov 23rd, 2019
Who's Online Now
33 registered members (AR_One, 7 invisible), 1,256 guests, and362 spiders.
Key: Admin, Global Mod, Mod
Social Media : Follow Us


Popular Topics(Views 7days)
New General Forums
Booster jab
by casper. 25th Sep 2021 4:28pm
Can anyone recommend an experienced Physio Wirral
by Longnails. 17th Sep 2021 5:41pm
The CB Radio Wirral FB Page
by TheGodSplinter. 14th Sep 2021 3:04am
Admin'/Mark...
by TheGodSplinter. 13th Sep 2021 5:13pm
New Wirral History
Seacombe Riverview St. Laundry
by mautry. 12th Sep 2021 8:47pm
Missing Seacombe Street
by mautry. 1st Sep 2021 9:12pm
Info on Granville Terrace / Wood Lane please/
by JadyW. 22nd May 2020 8:59am
Mersey Park Primary School
by Maisie. 12th Mar 2011 2:14pm
River Fender
by Erainn. 30th Jan 2011 6:22pm
Forum Tips
Photo Gallery Forums
New Brighton Artwork
Boaty McBoatface takes shape
Topic Replies
La Plama Volcanic Eruption
by granny. 27th Sep 2021 11:05pm
Royden Hall Christmas Fair
by granny. 27th Sep 2021 9:28pm
Doctors appointments
by mikeeb. 27th Sep 2021 12:45pm
Fluoridation
by diggingdeeper. 26th Sep 2021 11:26pm
Panic buying
by granny. 26th Sep 2021 8:31pm
Dock Branch Park
by diggingdeeper. 26th Sep 2021 7:06pm
Energy firms going bust
by casper. 25th Sep 2021 9:22am
Spooky image
by cools. 24th Sep 2021 7:20pm
Fire logs
by TheComputerLab. 24th Sep 2021 2:53pm
September
M T W T F S S
1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30
Recent Posts : What's On ?
Royden Hall Christmas Fair
by granny. 27th Sep 2021 9:28pm
Previous Topic
Next Topic
Print Topic
Rate Topic
Pension or Lump Sum #1061799
9th Nov 2018 11:24pm
9th Nov 2018 11:24pm
Joined: Mar 2010
Posts: 4,044
Heswallish
F
fish5133 Offline OP
Forum Guardian
fish5133  Offline OP
Forum Guardian
F
Joined: Mar 2010
Posts: 4,044
Heswallish
Took a small pension when i was 50 and been receiving it for last 10 years (about £45 a month .) The pension company has now offered me to cash it in for a lump sum worth about 16 times the annual amount. . Seems a no brainer to me although may have to pay tax. Anyone else had similar and any other things to consider..

Google Ads
Re: Pension or Lump Sum [Re: fish5133] #1061805
10th Nov 2018 4:29am
10th Nov 2018 4:29am
Joined: Jul 2008
Posts: 13,969
Birkenhead
diggingdeeper Offline

Wiki Master
diggingdeeper  Offline

Wiki Master
Joined: Jul 2008
Posts: 13,969
Birkenhead
General rule is to keep it running as a pension except in certain circumstances.

If you have any significant loans or mortgages it would pay to get lump-sum.

Ignoring the lump sum you will receive, does that £45 make a noticeable difference to your standard of living?

Have you got any necessary expenses you have been holding off (car, roof etc). Or will be likely to in the coming years?

Assuming you are going to live at least 16 years it’s not a good deal.

I doubt it will only be a small amount of tax on it.

I might pm you more over the weekend.


We don't do charity in Germany, We pay taxes. Charity is a failure of governments' responsibilities - Henning Wehn
Re: Pension or Lump Sum [Re: fish5133] #1061845
10th Nov 2018 7:11pm
10th Nov 2018 7:11pm
Joined: Mar 2010
Posts: 4,044
Heswallish
F
fish5133 Offline OP
Forum Guardian
fish5133  Offline OP
Forum Guardian
F
Joined: Mar 2010
Posts: 4,044
Heswallish
Thanks DD thats fine You covered much of what i thought. £45 in 10 years time not going to be worth much with prices rising. Currently annual expenditure is exceeding income so been dipping into savings last few years. Getting some new windows put in so could do with extra cash


Moderated by  Mod 

Random Wirral Images

Click to View Topic.
Newest Topics
Royden Hall Christmas Fair
by Smeeble. 27th Sep 2021 7:50pm
Fluoridation
by diggingdeeper. 26th Sep 2021 2:42am
Panic buying
by mikeeb. 25th Sep 2021 10:47am
Fire logs
by TheComputerLab. 24th Sep 2021 2:53pm
Energy firms going bust
by cools. 23rd Sep 2021 8:49pm
For Sale & Free
Nike Air Max 95 - Greedy 3.0 size 8.5
by Peter0787. 30th Aug 2021 3:21pm
Cat Boot's Size 9
by BultacoAstro. 23rd Aug 2021 9:28am
Member Spotlight
sunnyside
sunnyside
wirral
Posts: 45,160
Joined: April 2010
Show All Member Profiles 
Newest Members
DAVEY0482, steggy, Chelleg, WiskinCols, Bec1234
13960 Registered Users
Today's Birthdays
No Birthdays
New Wirral Info
Royden Hall Christmas Fair
by Smeeble. 27th Sep 2021 7:50pm
Fire logs
by TheComputerLab. 24th Sep 2021 2:53pm
Going to Hilbre island
by ultimate. 4th Sep 2021 4:44pm
Galtres School Bebington
by AllanB. 20th Aug 2021 7:36am
Dock Branch Park
by mikeeb. 6th Feb 2021 1:03pm
News : New Topics
Panic buying
by mikeeb. 25th Sep 2021 10:47am
Energy firms going bust
by cools. 23rd Sep 2021 8:49pm
La Plama Volcanic Eruption
by granny. 21st Sep 2021 3:26pm
Doctors appointments
by cools. 21st Sep 2021 8:38am
Emma Radacuna
by cools. 17th Sep 2021 9:53am
New Enthusiast Forums
Fluoridation
by diggingdeeper. 26th Sep 2021 2:42am
Spooky image
by cools. 23rd Sep 2021 7:58pm
Can You Recommend a Landscape Gardener in Wirral
by sneakypete. 14th Sep 2021 2:13pm
Bultaco pursang
by Bultaco. 13th Mar 2019 12:43pm
the over flow on bidston moss
by paul110180. 24th Mar 2013 8:05pm
Popular Topics(Views 24hrs)
Wirral Sunrise Sunset
Sunrise Tue 7:09am
Sunset Tue 6:55pm
Local Time Tue 2:40am
Powered by UBB.threads™ PHP Forum Software 7.6.1.1