Hi all,
I'm just working out the best option to set myself up longterm and I'd appreciate any advice.
I've just started my first pensionable job at 27 as a primary school teacher. I'm classed as a new entrant so I wont be able to access my pension until 65.
That gives me roughly 38 years of earning to do before 65. If I retire around the 55 mark, the actuarial cost on doing that is huge, in that my pension would only be around 58% of what it should have been.
I'd like to invest in something that would soften that blow if I did decide to retire early... or... add to my earnings if I do decide to stay until 65. (Unlikely!)
I've been to a number of financial services "experts" and end up telling them how it all works for new entrant primary teachers so it is slightly frustrating!
Many thanks for your help and keep up the good work!
I'm just working out the best option to set myself up longterm and I'd appreciate any advice.
I've just started my first pensionable job at 27 as a primary school teacher. I'm classed as a new entrant so I wont be able to access my pension until 65.
That gives me roughly 38 years of earning to do before 65. If I retire around the 55 mark, the actuarial cost on doing that is huge, in that my pension would only be around 58% of what it should have been.
I'd like to invest in something that would soften that blow if I did decide to retire early... or... add to my earnings if I do decide to stay until 65. (Unlikely!)
I've been to a number of financial services "experts" and end up telling them how it all works for new entrant primary teachers so it is slightly frustrating!
Many thanks for your help and keep up the good work!