R
Red
Guest
Exercise:
I am age 54, and in good health TG.
I have worked for a company for 35 years and in DB pension scheme. Max pension is 40 over 60 or two thirds. I am on €42k p.a. I am offered €104 k to retire now plus pension(35 over 60 of €42k). Other option is to stay on until age 65 and get full pension. If I retire now I will get OAP, otherwise no OAP as DB pension is coordinated with state pension. I have €20k in AVC's.
Should I go or should I stay.
(a)Discuss
[100 marks]
(b)Should I commute part of pension, to get lump sum.
[30 marks]
(c)What would you do.?
[20 marks]
Rgds
Red
I am age 54, and in good health TG.
I have worked for a company for 35 years and in DB pension scheme. Max pension is 40 over 60 or two thirds. I am on €42k p.a. I am offered €104 k to retire now plus pension(35 over 60 of €42k). Other option is to stay on until age 65 and get full pension. If I retire now I will get OAP, otherwise no OAP as DB pension is coordinated with state pension. I have €20k in AVC's.
Should I go or should I stay.
(a)Discuss
[100 marks]
(b)Should I commute part of pension, to get lump sum.
[30 marks]
(c)What would you do.?
[20 marks]
Rgds
Red