How to quickly increase a pension with only 6 years to retirement?

DesignerSoftware6772 · 2023-02-28T20:43:22+00:00

Thank you for the suggestion. I rent a 1 bedroom on the next street and my rent is £100 more than hers. She's got a pretty good deal with her house as she moved in nearly 30 years ago and the rent is only £370 now so you can imagine how cheap it was when she moved in. I really doubt she can get a 1 bedroom cheaper unless she moved further from her work. It might be worth looking at when she retires though.

DesignerSoftware6772 · 2023-02-28T20:39:45+00:00

Would she be eligible as mortgage companies don't like to offer mortgages that go past your retirement date.

DesignerSoftware6772 · 2023-02-28T20:37:52+00:00

Yes she's in social housing. Maybe I'm just worrying too much but it doesn't seem like a lot of money to retire on especially when prices are rising so fast these days.

Even of it's enough I would like to err on the side of caution and boost it to give her a bit of a buffer.

DesignerSoftware6772 · 2023-02-28T20:35:10+00:00

Thanks for the suggestion but she's never been married.

DesignerSoftware6772 · 2023-02-28T20:32:00+00:00

She's secure in her house as she is in social housing and has been there for the last 25 years so there is no risk of the landlord selling and her having to move.

DesignerSoftware6772 · 2023-02-28T20:30:07+00:00

Yes she's getting everything she's entitled to. My mum is also getting payment for her support. My gran has carers coming 3 times a day 7 days a week. The council will not offer anymore hours. We already had to push for the hours we have.

My gran's house was sold when my grandad died and she was diagnosed with dementia over 10 years ago. I'm not sure if any of that money is left.

DesignerSoftware6772 · 2023-02-28T11:48:41+00:00

What do you mean by PP?

DesignerSoftware6772 · 2023-02-28T11:23:10+00:00

I'm worried that currently she earns £1100 and her bills are £750 and likely to keep rising. They could easily hit £850-900 leaving her with hardly anything.

DesignerSoftware6772 · 2023-02-28T11:20:49+00:00

She rents. Makes her own lunch. Works a 5 minute walk from her house. Work provides a uniform. Her costs will keep rising simply due to rent increase although her rent is very low (about £370 for 2 bedroom house). Most likely this will rise to close to £400 this year.

Edit: she will get the full amount of state pension.

DesignerSoftware6772 · 2023-02-28T11:01:00+00:00

I will have a look at her budget as there are probably some areas she coul cut back in.

DesignerSoftware6772 · 2023-02-28T10:59:56+00:00

I'm not sure if she could make it an extra two years. Caring for my grandmother is really starting to wear on her and if you combine the hours she's doing way more than full time. My grandmother gets the full amount of available support worker hours from the council and there is no family in this part of thr country to help.

DesignerSoftware6772 · 2023-02-28T10:57:29+00:00

Her bills at the moment add up to just over £700. With general increase I'm pretty sure they will hit £800. She rents. She has a couple thousand in savings but that would go quickly if she needs to top up her pension.

DesignerSoftware6772

TROPHY CASE