Wise MNers I need some advice.
I worked for years with the NHS and as things stand I can retired in 2 years time. In reality I will keep working part time following this because I need to and also because I’m not ready to fully retire.
As things stand I can take a lump sum plus will have a payment of around £900 in monthly pension.
Thing is my son is autistic, he’s 21 now but badly needs pushing as he has no direction just now. DH is supposed to be his carer but is not very proactive.
Ideally I’d like to take the pension now and reduce my hours so that I can take over the bulk of the care for DS.
The issue is there will be a small financial penalty for taking then pension two years early. It’s about 5% loss so lump sum decreased by 5% plus monthly payment.
Would you do it in the same position or should I just cut my hours and push DH to find more hours?
Financially it will be tough initially although the lump sum could go towards paying off the few debts we have so those monthly payments would cease.