My father is 64 and has roughly 250k in his pension scheme. He works for the family business which, thankfully is doing ok at present so he is able to pay himself a wage.
The annual pension from this would be very little however as it is in cash would he be better served taking the lump sum now and start drawing the pension. With back of the card maths he would get c. 12k per annum and even if he left it for 3 or 5 more years the value would not appreciate thatmuch given where interest rates are at present.
Any thoughts or advice would be greatly appreciated.
The annual pension from this would be very little however as it is in cash would he be better served taking the lump sum now and start drawing the pension. With back of the card maths he would get c. 12k per annum and even if he left it for 3 or 5 more years the value would not appreciate thatmuch given where interest rates are at present.
Any thoughts or advice would be greatly appreciated.
