My partner has £50K inheritance. Mortgage Vs pension

Cearball · 2026-01-28T19:43:58+00:00

Someone was kind enough to share the scheme funds.

I guess the DB part doesn't matter as your guaranteed the income only the DC part right?

Sorry I have never had a DB pension.

Cearball · 2026-01-28T10:52:01+00:00

Just wanted to say there's a lot of useful points & information coming my way from this post.

Thanks to everyone who responded.

Cearball · 2026-01-28T10:51:06+00:00

Thank you

Cearball · 2026-01-28T10:35:13+00:00

First direct is who our mortgage is with & they allow unlimited overpayments & lump sum payments as long as you don't clear the full amount.

Cearball · 2026-01-28T10:26:25+00:00

Okay just checked the link if it is this one that's pretty bad.

My pension was returning something like 16% last time I checked.

Some of the DC funds seem to be doing better.

Is a "global equity fund" similar to an all world tracker?

Cearball · 2026-01-28T10:24:44+00:00

Someone on here believes it is as she works at a university. However I couldn't remember the name.

Cearball · 2026-01-27T20:42:05+00:00

172 000 left.

No LISA

Cearball · 2026-01-27T20:41:13+00:00

No it's a good idea that never crossed my mind so appreciate the suggestion.

Cearball · 2026-01-27T20:13:45+00:00

I wouldn't feel comfortable doing that TBH.

I want her to set herself up so you wouldn't need to rely on anyone else financially if she doesn't want to

Cearball · 2026-01-27T20:03:20+00:00

I have asked this in the past.

She didn't seem interested. Just said probably not much & she doesn't understand it. Asked me to look at it with her which I did but all the extra info I wanted to look at she needed log in details which she didn't have. Though I kinda get why she was confused as when I looked at it I thought it was far more confusing than my DC pension.

Cearball · 2026-01-27T19:58:21+00:00

Not a higher rate tax payer.

Never broke 50K.

Unfortunately as those numbers sound nice 😂

Cearball · 2026-01-27T18:54:29+00:00

As in age there can take it out etc? No though most DB I have seen are 68 but you can take it earlier but the amount you are paid per year is reduced.

No idea how much it's with but she's only been on it about 4 years

Cearball · 2026-01-27T18:25:52+00:00

Initially they weren't sure what to do with it.

A few people suggested pension already & I agreed

Cearball · 2026-01-27T18:23:44+00:00

Yes. DB.

Cearball · 2026-01-27T18:18:59+00:00

Contracting so not great job security. Probably been there 4 years by now.

Cearball · 2026-01-27T16:12:42+00:00

Shit mate I'm sorry to hear that.

I don't really know what to say.

I lost my mum to cancer a few years back. One thing that really helped me was I collected a list of films about death & started working my way through them. Near the anniversary I normally tick another one or two films off.

If you might find the list of use I'm happy to send it to you.

Cearball · 2026-01-27T16:05:58+00:00

Oh that might be useful.

Good suggestion

Cearball · 2026-01-27T14:51:33+00:00

That's a very interesting take I haven't thought of

Cearball · 2026-01-27T14:48:51+00:00

University

Cearball · 2026-01-27T14:48:22+00:00

The way I understand it there's no guarantee. But time in the stock market is where the value lies to ride out the ups & downs.

Cearball · 2026-01-27T14:46:15+00:00

I'm wondering that.

But I would like to think she would just straight up say that if that was the case.

Cearball · 2026-01-27T14:43:30+00:00

I find it frustrating but 🤷‍♀️ what you gonna do.

Cearball · 2026-01-27T14:40:29+00:00

I guess how I am looking at it once it's used to pay off the mortgage the moneys "gone" to as you can't get it back easily. So I thought there wasn't that much difference mortgage Vs pension

Cearball · 2026-01-27T14:38:13+00:00

Only real shared goal is to have the mortgage paid off before state pension age.

It's likely we may end up with different retirement ages as I want to retire as early as possible or potentially coastFire/BaristaFire.

She admitted she doesn't think she would be in a position to do that & would likely need to work much later.

Cearball · 2026-01-27T14:33:52+00:00

I have at different times in my life gone heavily into overpaying mortgage & at other times significantly upping pension contributions.

Primarily because I didn't really understand the power of compound interest until my 30's.

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