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The Retirement Newsletter: Pension news
Welcome
Welcome to issue number 12.
This week, I reveal the outcome of my close call with my pension.
Did I lose 12%?
Me and My Pension
Back in issue -0.5 (remember, I was counting down to my retirement, hence the negative issue number) — Have I lost 12% of my pension? — I revealed how I may have lost 12% of my pension.
A quick recap…
My original plan was to retire on February 1st, 2024 (see Issue Number: -9.5), and I had a pension quote for that date, and the figures looked OK. I could just about afford to retire.
When I told my boss my plans, she persuaded me to stay until the end of the term to do some teaching and some assessments. I checked the impact of this change of date using the online calculator on the pension website. The calculator assured me there was no impact, and my pension would increase a small amount for each month I delayed. Hence, I agreed to change the date to early April.
I told the pension company of the date change.
I received a new quote around mid-March and was shocked that my pension income had dropped by 12%.
