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Author Topic: Tesco Pension  (Read 3349 times)

Charlie Harper

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Re: Tesco Pension
« Reply #25 on: 24-06-19, 12:07PM »
Just found it on the pension website...

'From age 55, you can take your savings all as cash (25% tax-free), a bit at a time or as a guaranteed regular income.'

So, for example, a 50 year old slaps in 7.5% a month (let's call it £100), Tesco match it, giving him a pot of around 11 grand after 5 years. That pot has cost him less than 5.5 grand (once tax breaks are accounted for).

Those calculations are not including any pot growth of course. (It should be noted nothing is guaranteed & pensions can go down as well as up).
« Last Edit: 24-06-19, 12:15PM by Charlie Harper »

Denbis

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Re: Tesco Pension
« Reply #26 on: 26-06-19, 08:57AM »
Been in current tesco retirement scheme since it started..less than 4 years ago (i think), pay 7.5% in each pay, normally around £100, and thats matched by tesco. Currently have just over 11k in pot. I am sure theres a lot better pensions out there but i think its a decent scheme.