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Due to retire later in the year on a final salary pension, what are the benifts and againsts on taking a lump sum, getting conflicting advice on what to do.
Started by damon21 on
, 16 posts
by 12 people.
Answer Snippets (Read the full thread at moneysavingexpert):
They would have difficulty....
Opinions with the info provided Benefits of taking lump sum
1) Cash in hand if you need it eg for paying on this forum have generally found that their pension lost is more valuable than their lump sum.
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An earlier thread was discussing lottery winnings and this link was referenced, which compares the powerball payout as a lump sum payout vs the 30 year annuities option. Looking at the numbers, the first reaction is that by taking the lump sum, a lottery...
Started by drillrod on
, 22 posts
by 17 people.
Answer Snippets (Read the full thread at straightdope):
Besides, in this economy Lottery thinks you should take the annuity .
It will last me my lifetime and beyond.
FWIW, I'll take the lump sum.
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When playing the lottery, which payout do you usually pick? Why?
Even if you don't play, which payout would you think is best? Why?
For those of you wondering what I mean...
Lump Sum is when you get half the jackpot now.
Annuity is when you get the jackpot...
Started by VamPyroX on
, 15 posts
by 10 people.
Answer Snippets (Read the full thread at alldeaf):
That would bring it down to about $$ go to my... .
Take the lump sum and live off the interest.
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Ask your Facebook Friends
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Quick Q for those who may know or may be thinking of doing the same thing as me.
Should I be selected for the Golden Axe I stand to receive (in the next tranche) a rather hefty £80,000 (after full commutation) and a pension.
Now, I am pragmatic enough...
Started by chocolate_frog on
, 15 posts
by 9 people.
Answer Snippets (Read the full thread at arrse):
The recovery of the lump sum is the difference between the lump sum due at Immediate Pension Point and the lump sum available for your....
If I can squeeze a tour with MSSG in before leaving I wll be quite chuffed .
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Reported in today's Sunday Business Post, the state will have paid out €1.2 billion in lump sums to retiring Public Sector workers in 2011 and 2012.
(For those that don't know: Public Sector workers get up to 1.5 years' pay, tax-free, upon retirement....
Started by n97 mini on
, 15 posts
by 11 people.
Answer Snippets (Read the full thread at boards):
If I never did a days work? That's not the choice the poster is talking about making
Lump sums for pensionable earnings SHOULD whether the lump....
And as part of that was the grant of a lump sum at the end and a pension.
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Hello,
So I have transitioned my account from morgan stanley to Fidelity, which I am now managing myself. I am confident on my AA. I've sold off a bunch of "stuff" from MS, which has freed up a considerable amount of cash. I have over half of my account...
Started by mojorisin on
, 23 posts
by 15 people.
Answer Snippets (Read the full thread at bogleheads):
It's to just get return than just lump ....
That's the whole point of DCA.
Cash does nothing for you to lump sum it all now, then go with DCA.
Go for it.
lump sum into the market all at once and I've never regretted it.
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This relates to owner occupied homes only. There is a discussion relating to investment property here
In normal market circumstances, banks take in deposits at one rate and lend it out at higher rates, so it makes no financial sense to have money on deposit...
Started by Brendan Burgess on
, 20 posts
by 12 people.
Answer Snippets (Read the full thread at askaboutmoney):
Redundant these days are looking for - not sure where to put their lump sum (if lucky enough to get one it is not, so I for one am going to try leave my lump sum in a high interest account and keep comparison? I have a mortgage....
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Annual.
Why the fuck would you leave all that money on the table? To the gov't, no less.
Started by rearadmiral on
, 15 posts
by 8 people.
Answer Snippets (Read the full thread at barstoolsports):
Last tomorrow.
Lump sum...you're probably not losing anything with all the interest it's going to make.
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Will Inheriting from my mums estate will wipe out all of the tax credits we currently receive? Currently on self employed with low earnings and receiving DLA/carers allowance for daughter. Son would be receiving EMA for 6th form.
At the moment, have around...
Started by jacquibaby on
, 12 posts
by 6 people.
Answer Snippets (Read the full thread at moneysavingexpert):
Hi
That's what someone on here told me a while back, but looking at the notes to go ... .
It doesnt need to be declared.
Inheritance is NOT an income for tax credit purposes until it hits a VERY large amount (cant remember exactly what, but its 6 figures) .
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My wife is planning to retire in August of this year. She is self employed contracted to the NHS and she has been advised what her pension and lump sum is as of 5/4/11.
If she so wishes she can increase her lump sum by commuting part of her pension albeit...
Started by kostigovs on
, 6 posts
by 3 people.
Answer Snippets (Read the full thread at moneysavingexpert):
I've come across a similar website and it has produced could get in the way of an enhanced lump sum From what you say, it sounds like she has a DB pension confusion over the maximum....
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