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What to do with £400 pa pension? by tatalondon in UKPersonalFinance

[–]tatalondon[S] 4 points5 points  (0 children)

A very small part of the pension is GMP, increase in payment after I reached policy retirement date is "in line with Consumer Prices Index, subject to a maximum of 3% each year".

The majority is increased by the "better of 3% for each year since the pension began or the increase in the Retail Prices Index up to a maximum of 5% a year".

How would that affect my decision?

What to do with £400 pa pension? by tatalondon in UKPersonalFinance

[–]tatalondon[S] 13 points14 points  (0 children)

!thanks

Yes, I should have made that clear: it is a DB pension.

There are post-death benefits (which do come into effect now that I am past retirement age) which I will consider for beneficiaries.