02-16-2011, 12:50 PM | #1 |
Senior Member
Join Date: Nov 2008
Location: Tenerife (Spain)
Posts: 3,719
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my pension
I've put this in "humor". It's perfectly true, but if I couldn't laugh at it I'd start crying.
I'll be 65 next february, so I'm trying to work out what my income will be, over & above the state pension, & the couple of small pensions I've been getting since age 60. This being so, I got in touch with the company that holds a pension that I stopped paying in 1970, when I left the National electricity company. I received a reply today. I'll be entitled to £16.94 ($27.20) a year, or I can take a one off lump sum of £189.39 ($304.00). The clincher was that "either of these choices will be liable to income tax" Oh well, forget the holiday in the Bahamas! :poorbaby:
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02-16-2011, 04:00 PM | #2 |
Senior Member
Join Date: Apr 2010
Location: Lubbock, TX
Posts: 629
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Re: my pension
My advice: Go for the lump sum and buy yourself something you've wanted for a while, to help you feel better.
I will be 62 in about 8 months and will file for social security then. Since I already receive federal retirement, and I haven't worked since I was 55 so I haven't paid in to social security since then, both factors will reduce my social security payment. I will probably cry when I see the amount. But when I see the number of people who work until they are too old to really ENJOY their retirement, I know I made the right decision.
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