Edenbridge14
Registered User
- Messages
- 19
Hi there
I will be 60 in June and will be receiving a private pension from a British Telecom who I worked for. I am living in Ireland for 10 years now but have not worked and have no contributions.
However I have lived in the UK working with BT. Upon leaving BT 11 years ago my pension was worth £4209.61 Stg. Now its worth £6138.47 stg.
I have been offered the following alternative options though from them.
1.) Annual Increasing Pension of £6138.00 stg
2). Annual Increasing Pension of £4325.00 stg and a lump sum of £28,833 stg
3.) Annual Increasing Pension of £3900.00 stg, and a non increasing pension of £3206 stg totalling £7102.00 stg
4.) Annual Increasing Pension of £1800 stg, and a non increasing pension of £3206 stg with a lump sum of £33362.00 stg
I have a wife 20 years younger, who works full time who is also studying her Masters so looks promising for her continuing employment, along with 2 young kids aged 12 & 9. I have a house worth €350k with a tracker mortgage on it for €110k (17 years left) along with a bedsit attached to it (Converted garage) that generates a rental income of approx €300 a month) I am also an insulin dependent diabetic and with my health been good at the moment, i'm concerned that as I get older it may become more difficult to manage.
Just looking for advice on whats the best option to take re the pension.
Thanks in advance
I will be 60 in June and will be receiving a private pension from a British Telecom who I worked for. I am living in Ireland for 10 years now but have not worked and have no contributions.
However I have lived in the UK working with BT. Upon leaving BT 11 years ago my pension was worth £4209.61 Stg. Now its worth £6138.47 stg.
I have been offered the following alternative options though from them.
1.) Annual Increasing Pension of £6138.00 stg
2). Annual Increasing Pension of £4325.00 stg and a lump sum of £28,833 stg
3.) Annual Increasing Pension of £3900.00 stg, and a non increasing pension of £3206 stg totalling £7102.00 stg
4.) Annual Increasing Pension of £1800 stg, and a non increasing pension of £3206 stg with a lump sum of £33362.00 stg
I have a wife 20 years younger, who works full time who is also studying her Masters so looks promising for her continuing employment, along with 2 young kids aged 12 & 9. I have a house worth €350k with a tracker mortgage on it for €110k (17 years left) along with a bedsit attached to it (Converted garage) that generates a rental income of approx €300 a month) I am also an insulin dependent diabetic and with my health been good at the moment, i'm concerned that as I get older it may become more difficult to manage.
Just looking for advice on whats the best option to take re the pension.
Thanks in advance