Pension fund

[mopitup]

Hi All,

Pensions never understood them.

I retire November this year and my pension is with Merseyside Pensions Fund. Has any one dealt with these ? only I want my pension to kick in as soon as I retire as I will still have rent and bills to pay
any help gratefully received Thanks

[magpie]

Just contact them to say you are retiring in November and would like a pension estimate. I did it with mine and was given all the figures and the two options, large pension small lump sum, small pension larger lump sum. After talking to my financial advisor i chose what i thought was best for me. I think you need to get in now because they advised that it might take 3 months to sort ( actually only 1 month in reality) so they advise that you have enough savings to cover you for that period. Mine wasnt with Merseyside pensions fund but i imagine there isn't much difference between all of them. Hope this helps

[Dragonrider]

My personal pensions were with the same Insurance Company and they contacted me in good time with each one.
I then looked at the various options and went with the TAX-FREE lump sum option and the full amount from day one, rather than a smaller amount which would build up each year which would take several years to reach its max.

For me, this was my best option as once I got my state pension, I'd start paying tax again! Which I now do!