Retirement money

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evertoniandy said:
Wouldn't mind getting into the BA side of it. Need to get above where I am now so I'm not just another number in the over saturated market.
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The glory days of contracting have passed - maybe for just the time being. A lot of the major banks have reduced the contractors on their books, largely as there is a huge pool of lazy tosh out there.

Like everything really, it's best to try and be a subject matter expert, particularly in compliance or regulation at the moment.
 
Tramps_mate said:
Go on.....
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Knock off the tax free cash (25%) so you're left with £123,750 to actually buy your annuity with, that gets you less than £6k a year depending on where you look. Obviously if you have medical issues then you can get a bit more from an enhanced annuity.

Depends on what extra options you go for though, Spouses pension, guarantee periods, payment frequency etc.

That figure above was for a level pension with a 50% spouses pension i.e. she gets 50% of what he was getting when he dies, if she's still alive.
 
All things being equal I'll be mortgage free in 6 years (50) then give another couple of years to save a few more quid and then bang out after about 30 years' service.

I'd get a pension straight away and a sizeable gratuity payment, which will be more than enough to live off. If they ever allow me to reach state pension age, I'd have that topping up. I've also got a pension worth about £1200 a year from my early career at Royal Insirance in town. Again, I won't be able to claim that til normal retirement age but it'll all help in the long run.
 
......very topical, after nearly 41 years I formally retire at the end of May but actually only have a week or so left because I have that much leave to take.

As a Civil Servant I'm going out with a full pension and very pleasant lump sum. I paid my mortgage off some time ago so already have monies put aside. I'm in a very fortunate position of being 59, never have to work again and enough money to pretty much do what I want as long as I have good health.

Feeling a bit strange leaving work after so long.
 
I know this goes against the grain of conventional pension planning but I've never been a big fan of pensions and have just saved and invested along the way. I appreciate from a tax point of view that's not very efficient compared to a pension fund but I've taken the view I'd rather have control and access than (i) funds tied up for many years and (ii) having to purchase an annuity.

Appreciate there's more flexibility these days but the idea of buying an annuity always seemed a poor one in my mind - I'd much rather generate investment income myself, have the capital to hand, and it's there to pass on to future generations.

I accept that's difficult to achieve if in paid employment.
 
Pienaar's gloves said:
So if anyone knows of any jobs going for graduates that mean I won't starve when I'm 70, give me a shout.

Cheers. ;)
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You tried looking in construction? I know the company I'm currently on a grad scheme are actively looking for grads to start in September (I know this as I did a recruitment fair for them to get the afternoon off). Even if you didnt do anything construction related they will pay for you to do your masters whilst still giving you your full salary.
 
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