Calculating financial requirements. RECAP
Hello once again. I’ve just popped in to re-read all the posts that I discussed earlier, one of which was posted below.
I did just want someone to clarify if the £18,600 quoted is the NET pension income, after Tax..? Or gross..?
Also am I right in thinking this £18,600 figure can be the sum of both my own and spouses, (applicant’s), pensions combined, and not just mine with me being the sponsor..?
.
If you are using EITHER savings OR pension income, it's:
£18,600 per year in pension income
OR
£62,500 in cash savings (£16,000 + (2.5 years x £18,600))