Taking break in employment - options for occupational pension

[elacsaplau]

I will leave it at this - we are not going to agree - and life is short.

The identified risk factor is miniscule as any such changes in pensions would have a lead-in time. In any event the different/additional Tax Free Lump Sum option that applies to PRBs is contingent on the purchase of an annuity with the remainder of the fund. So this option will not be of interest to many and those to which it does apply will have time to switch, if required, should the legislation change.

Gordon's summary above is correct.

 

[gnf_ireland]

I will leave it at this - we are not going to agree - and life is short.

The identified risk factor is miniscule as any such changes in pensions would have a lead-in time. In any event the different/additional Tax Free Lump Sum option that applies to PRBs is contingent on the purchase of an annuity with the remainder of the fund. So this option will not be of interest to many and those to which it does apply will have time to switch, if required, should the legislation change.

Gordon's summary above is correct.

Thanks for this. What you have highlighted to me the relationship to the draw-down options. I had of course been focused on building the pot since drawdown is a while away. I will need to consider whether service is important as my wife was part time and was there for ~7 years.