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12 August 2012

What to do about our pensions?!!

My wife and I are currently (and exceedingly belatedly) coming to terms with the issue of our pensions. I'd very much appreciate your collective advice on what might be best for us. First of all, my wife is soon to be 60 and I am 47. We have a joint mortgage of around £75k on a property that is of difficult-to-assess current value (it's a two-bedroom end-of-terrace cottage, valued in 2006 (i.e.before the crash) at around £105,000). We have no other debts whatsoever. Secondly, my wife has three pension pots, jointly worth around £65,000. I have two minor pension pots - which I have not contributed to for at least 15 years - worth perhaps 10,000 or so. Thirdly, I believe we have to make the decision about my wife's pension in the next few weeks. However, given the scandals in the finance industry as a whole, I do not feel I can trust any IFA to give me totally unbiased advice. And I certainly don't trust my bank to provide unbiased advice either. Perhaps this antipathy is misplaced. But in any event, I'd like to garner a series of opinions from a variety of sources. At least then I might learn to ask the right questions when it comes to finally deciding what to do! All help most gratefully received...!

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