D
Desmo
Guest
A question about how to take the 25% cash element of a total pension pot.
Three years ago (aged 48) I left a company where I had 27 years contributions to a good final salary pension scheme. I then started to contribute to an annuity based scheme and have so far accrued a value of ca £25,000. I can take my final salary pension at any age from 50, with a reduced value. I’m thinking that the value of my final salary pension is much better than any annuity I will get in the future. If I decide to draw my final salary pension early, is it possible to use the value of the annuity contribution as the total of the 25% cash element and so protect the income from the final salary scheme?
Three years ago (aged 48) I left a company where I had 27 years contributions to a good final salary pension scheme. I then started to contribute to an annuity based scheme and have so far accrued a value of ca £25,000. I can take my final salary pension at any age from 50, with a reduced value. I’m thinking that the value of my final salary pension is much better than any annuity I will get in the future. If I decide to draw my final salary pension early, is it possible to use the value of the annuity contribution as the total of the 25% cash element and so protect the income from the final salary scheme?