Hi all - just looking for some advice here...
I have a UK private pension with Zurich which has a fund value of about £110000. I haven't paid into it since 1992 and it matures (they call it a 'planned retirement date') next year when I'm 65. Their forecast at present is it would give me around €175 per month for life.
Mortgage has €55000 left and is finished March 2027 and costs me €1200 per month. Would it be a good idea to cash in some of that pension if I was able to, to pay off the mortgage when the pension is available? At present I plan to give up the job at 66 when I can claim full Irish pension and perhaps 3/4 of a UK pension.
Thanks
I have a UK private pension with Zurich which has a fund value of about £110000. I haven't paid into it since 1992 and it matures (they call it a 'planned retirement date') next year when I'm 65. Their forecast at present is it would give me around €175 per month for life.
Mortgage has €55000 left and is finished March 2027 and costs me €1200 per month. Would it be a good idea to cash in some of that pension if I was able to, to pay off the mortgage when the pension is available? At present I plan to give up the job at 66 when I can claim full Irish pension and perhaps 3/4 of a UK pension.
Thanks