What will a pension fund of 拢155,000 provide as an income ?

It is very hard to provide an answer to this without knowing your age, gender and what kind of guarantees you would expect at retirement.

Another great site to check out is one of the providers such as Norwich Union, Clerical Medical, Scottish Equitable. All of these offer easy to use calculators that you can either use as 'if I want 拢X when I retire how much should I contribute' or 'I have 拢X now how much pension will I get with it'. The majority of sites offer very similar actuarial rates because it is such a competitive market so I would watch for charges as this is normally where things differ between companies.

These links may be helpful for pension calculators and advice:

Norwich Union: http://www.makesenseofit.com (go to either pensions/retirements and choose 'a bit of a numbers person')

Clerical Medical (the main site is http://www.clericalmedical.co.uk): http://www.pensioncalculator.org.uk/page...

Scottish Equitable: http://www.aegonse.co.uk/consumer/pensio...

Pensions Advice: http://www.pensionsadvisoryservice.org.u...


Good luck.

some money

What % interest would you acure? 5% WOULD BE IDEAL! THE MORE THE BETTER, BUT DON'T SPEND YOU PRINCIPLE!

not a lot.they say if you just started work.you will have to put
about 20-25%.of your earns to have a half decent pension.
and on top of that you will need.medical insurance.and it will be
like america.were my friends and family live.and a big part of
there wages gose on this things.and its on its way here very very soon.

Depends whether you are male or female, age, etc.

The pension company normally works out your life expectancy and divides the pension fund by the number of years you have left to live. This gives your annual pension.

If you retired at 65 you would probably only be expected to live another 12 to 13 years. This would give an annual gross pension of approximately 拢13,000.

Go to www.thisismoney.com and click on 'Retirement'. Then underneath the drop-down menu, click on 'Annuity Rates Tables'. These are up-to-date tables based on your gender, age now and amount of money in fund. The figures they quote are usually based on 拢100,000 so you would have to multiply the figure by 1.55 to get the amount you'd have as a pension.

If you take 25% of the 拢155,000 as a tax-free lump sum (I would!) then you'd have to multiply by 1.16250. I hope this is nice and clear!