I'm 60. My pension pot is £900,000 (£700,000 brought in from my final salary pension) invested with an investment company I've been with since my 30s and so far have been totally reliable.
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My adviser (who looks about 12) says I can have £3000 per month after tax (and no tax will be payable as they can use my tax free allowances) for the rest of my life rising with inflation and I should be able to take lump sums occasionally for cars, holiday etc. without affecting growth or tax position.
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Do these figures stack up?
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It looks like I could draw down 900K over 20 years and receive £45,000 PA, but my adviser says he needs to reserve approx half for growth and exceptional market conditions to meet my current £36K pension over my expected life.
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What does the team think?
Submitted June 20, 2018 at 05:30AM by advent2016 https://ift.tt/2t7dj7h
