WikiWirral is where great friendships are made.
Forum Statistics
Posts1,010,598
Topics74,654
Members12,791
Forums66
Posts in last 24hrs40
Most Online7,831
Apr 8th, 2013
Who's Online Now
61 registered members (11kendo, 11 invisible), 1,131 guests, and379 spiders.
Key: Admin, Global Mod, Mod
Social Media : Follow Us


Popular Topics(Views 7days)
New General Forums
Book batteries.
by venice. 13th Nov 2018 8:54am
J.F.K
by cools. 12th Nov 2018 12:44pm
Happy Birthday Detecting Wirral and Roobarb
by snowhite. 12th Nov 2018 10:58am
Remembrance Hamilton Square
by fish5133. 11th Nov 2018 10:19pm
New Wirral History
Rock Ferry boat disaster 1834?
by yoller. 9th Nov 2018 10:10am
Birkenhead riots
by yoller. 6th Nov 2018 9:13am
Mersey ferries, 1840s
by yoller. 28th Oct 2018 2:01pm
757 Rocks Wallasey Road Liscard
by derekdwc. 16th Oct 2018 8:04pm
756 Scrap Yard Wallasey Road Liscard
by derekdwc. 16th Oct 2018 8:00pm
Forum Tips
Photo Gallery Forums
No more bridge, never be the same
Over Exposed Crash Site
Topic Replies
The Hooton Hotel
by diggingdeeper. 14th Nov 2018 1:04am
Any urban explorers help!!
by Berliner. 13th Nov 2018 7:47pm
What song are you listening to?
by Dilly. 13th Nov 2018 7:02pm
Lest we forget
by casper. 13th Nov 2018 4:30pm
Stop a second referndum.
by diggingdeeper. 13th Nov 2018 2:33pm
320d won't pass emission test
by Habdab. 13th Nov 2018 11:58am
Fracking
by Gibbo. 13th Nov 2018 10:31am
Dynasties
by granny. 13th Nov 2018 9:37am
WWI's Secret Shame:
by granny. 13th Nov 2018 9:35am
November
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 ?
Wirral Quilters Exhibition
by Greenwood. 12th Nov 2018 12:10pm
British Ironworks Centre Oswestry
by missmahjong. 28th Oct 2018 11:23am
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: 3,792
Heswallish
F
fish5133 Online content OP
Forum Guardian
fish5133  Online Content OP
Forum Guardian
F
Joined: Mar 2010
Posts: 3,792
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: 12,093
Birkenhead
diggingdeeper Offline

Wiki Master
diggingdeeper  Offline

Wiki Master
Joined: Jul 2008
Posts: 12,093
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.


In a time of universal deceit - telling the truth is a revolutionary act. George Orwell

We should judge our economy by the absence of poverty, not the number of billionaires - Jeremy Corbyn
Re: Pension or Lump Sum [Re: fish5133] #1061845
10th Nov 2018 7:11pm
10th Nov 2018 7:11pm
Joined: Mar 2010
Posts: 3,792
Heswallish
F
fish5133 Online content OP
Forum Guardian
fish5133  Online Content OP
Forum Guardian
F
Joined: Mar 2010
Posts: 3,792
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
The Hooton Hotel
by venice. 13th Nov 2018 4:55pm
WWI's Secret Shame:
by granny. 13th Nov 2018 9:35am
320d won't pass emission test
by DavidB. 13th Nov 2018 1:59am
Wirral Quilters Exhibition
by Greenwood. 12th Nov 2018 12:10pm
Dynasties
by cools. 12th Nov 2018 11:38am
For Sale & Free
Pro Fitness Exercise Bike
by rhoobarb2002. 10th Nov 2018 2:52pm
PC Peripherals
by Catsick. 10th Nov 2018 1:54pm
Ipad Mini 4 128gb
by Catsick. 10th Nov 2018 1:47pm
Raleigh Evo 7 Speed Folding Bicycle
by Catsick. 10th Nov 2018 1:19pm
Gainward Nvidia GTX 770 - £30
by rhoobarb2002. 9th Nov 2018 3:05pm
Member Spotlight
Tatey
Tatey
New Brighton
Posts: 1,419
Joined: April 2009
Show All Member Profiles 
Newest Members
joel9, Gibbo2191, Quensh, marcjday, Lesjones10
12791 Registered Users
Today's Birthdays
No Birthdays
New Wirral Info
The Hooton Hotel
by venice. 13th Nov 2018 4:55pm
Wirral Quilters Exhibition
by Greenwood. 12th Nov 2018 12:10pm
Pension or Lump Sum
by fish5133. 9th Nov 2018 11:24pm
Stop a second referndum.
by granny. 1st Nov 2018 10:45pm
Birkenhead VE /VJ celebrations
by Nesta. 1st Nov 2018 7:09pm
News : New Topics
Taxi Drivers and Drugs
by diggingdeeper. 6th Nov 2018 4:25pm
Birkenhead tip on fire
by assassin. 6th Nov 2018 12:11am
Keep car doors locked
by cools. 3rd Nov 2018 3:23pm
Mischief night
by cools. 30th Oct 2018 10:18pm
New Enthusiast Forums
WWI's Secret Shame:
by granny. 13th Nov 2018 9:35am
320d won't pass emission test
by DavidB. 13th Nov 2018 1:59am
Dynasties
by cools. 12th Nov 2018 11:38am
Waterfront
by cools. 10th Nov 2018 10:50am
Any urban explorers help!!
by nirvanaflower. 7th Nov 2018 6:58pm
Popular Topics(Views 24hrs)
Wirral Sunrise Sunset
Sunrise Wed 7:36am
Sunset Wed 4:16pm
Local Time Wed 7:42am
Powered by UBB.threads™ PHP Forum Software 7.6.1.1