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08 December 2008

I,m 50 in January...should i cash my pension in now or later?The pot is only worth 35k and is frozen.

My theory is that the fund is not going to be worth much more in 5 years time so i might aswell get some monthly money now.I,m not looking for a tax-free lump as that depletes your fund by 25%..but a taxable £220 per month(not inflation linked) sounds ok to me.In my calculation that means i,ve had 22k paid out by the time i,m 60. I don,t think i,m gonna be around when i,m nearing 70 simply cos of my previous smoking/drinking lifestyle for 33 years...so...get the cash while i can syndrome. What you say?

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