Canal Street Online Manchester

What to do with your Gay Retirement nest egg?

What to do with your Gay Retirement nest egg?

We recently highlighted Equality Wealth's LGBT Retirement Guide to encourage our Community to be proactive about the issues and opportunities facing us when planning for our eventual retirement. Request copy here  

A key issue affecting older LGBTs is what to do with the Pension Pot as retirement gets closer, especially for those having pensions from their employer to receive an amount based on salary (defined benefit), as opposed to having their own Pension Pot (defined contribution). This is a complicated issue and there is no ‘one correct answer’, and the best way for us to know the right options is to get advice.

For LGBTs who are moving towards retirement and wondering what to do, there may be different issues to consider. Many of us may have spent many years living in the closet and not planning for retirement. We are also generally less likely to have children and dependents, and our succession planning may therefore well be different. These kind of issues are important considerations when thinking about what to do with our Pension Pot.

Equality Wealth stresses the importance of getting  independent and understanding advice and have partnered with specialist LGBT Pension Advisers across the UK.  In Manchester and the North West, they have partnered with Kath Wilkinson and Kath is offering a free independent Pension Review for the LGBT Community in her area.

If you’d like some understanding advice on what to do with your Pension Pot, you can request a meeting with Kath by clicking the link below.

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Published: 20-Feb-2019

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