Don’t get one.
They are being fitted by unskilled numbties with virtually no training, and your house will burn down several months afterwards from over heating terminations. There are several documented cases of this happening in the last few years.
And the recent adverts on telly promoting them are verging on total lies. The one with (I think) the disability scooter is particularly bad.
I’m in a similar situation but am already 58.
I’ve consolidated all my Defined Contributions pensions into one scheme but left my Final Salary schemes alone, as they are linked to RPI which at 3.3% PA isn’t bad at the moment.
A problem I think you will hit soon is that if your pension is worth more than 80K you will HAVE to take financial advice if you want to transfer it to a scheme that offers flexibility and as financial advisors charge between 1-3% that’s a significant amount whether you take their advice or not.
I am planning on retiring in about 3 years time and have already decided to go down the Drawdown Option as I don’t think the Annuity Option isn’t to my advantage (but I don’t have a wife to consider) and am planning on supplementing my salary whilst I am still work…[Read more]