How do I make the most of pensions income?

Author	Message
Written on: 16.11.2009 [04:55]
sandy Sandy Topic creator Posts: 3	My husband and I have recently retired and we're doing our best to live a frugal life and eke out our pensions! Income being a cause of concern, who has some good tips on making the most of a pension / pensions income?!
Written on: 17.11.2009 [12:19]
Witt Witt Posts: 4	First things first – work out exactly how much you have going out and coming in! It sounds simple and it is, but when we did this we soon realised where we could cut corners – two mobile phones no longer made sense, and we downgraded the Sky package too. Try and work out where you 'waste' money – this will help too. Is your home energy efficient or are you paying too much for bills? Do you shop wisely or rely on ready meals? It all adds up and it will all make a difference . Sometimes it's good to do a combination of long-term and short-term changes – you'll see the reduction in your utility bills in a couple of months, but you can see the reduction in the cost of your grocery shopping at the end of the week.
Also very interesting: Can someone explain the Pension Protection Act lump sum debate to me? Where to get free and simple information regarding the pensions A day? Finding an easy to use pension-value calculator Dept of Works & Pensions access to bank details? Why have final salary pensions stopped? FSA Pension calculator query: what is the lump sum? Is it necessary to send medical forms to the pensions office? Possible to recontract back into Serps pension? What is a pension protection lump sum death benefit? Are companies able to raid companies’ pensions and steal from its employees?