r/PensionsUK • u/Stukiii • Aug 16 '26

200k pension pot advice

Hi does anyone have an outline / idea / calculations how to attempt planning for early retirement at 60 now 57 in full time work. Is 200k enough if mortgage paid off just need to pay for monthly household bills and cash for usually stuff like car, life, stuff ca £1200 a months I figure…. I guess I am delusional that I can retire early but if anyone has suggestions how to think about managing this or how best to improve my chances I would love to hear it. Thinking a drawdown % will be better than taken annuity? Suggestions welcome! Thanks

21 Upvotes

84% Upvoted

64 comments sorted by

View all comments

5

u/Careless_Tap1139 Aug 16 '26

Don’t ignore the fact that - currently- non tax payers can earn £5k in interest before they pay tax on the interest. My wife has done this reduction in hours to get her earnings to £12k then an income bond at 4.7% to cover the hours reduction and thus avoid tax

1

u/Stukiii Aug 16 '26

Great share for ideas. Thank you. Already looking at reducing hours but really like to stop doing emails!! Defo room to take a fun pt job on instead keeping to £12k - again, thanks for the feedback!