Off topic Sid15 Mar 2021 10:27
Morning Sid/Everyone.
If i may i will explain my/wifes position.
Me,in receipt of a pension from Bae systems.Wife receives Tesco pension,also due to retire this Sept.
Rewind to 2014.Wife and i decided to take 25% from our respective company schemes,my wife commenced her one and only pension.I paid the additional tax and took the remainder which we banked in Isas.We imediately commenced new pensions with our companies.The monthly pensions we receive have been used to put £500 each into our respective company SAYE schemes.My wifes Tesco shares which she bought and kept have netted her £8000 special dividend with 13000 shares to sell as and when.Mine should net approx £100000.
The pensions we recommenced in 2014 have again been taken,this time both have paid all taxes and lump sums put in tax free Isas.
We will retire with approx £220000-£240000 in the bank,sheltered from tax.
End result is 2 x state pensions + 1 company pension each will give us £2000 pcm.
Personally I would rather have £220k etc under my roof than a pension fund where the money can go up and down like a sparrow on a dung heap.How much will a company give you per annum for £220k ?