12 Months ago I retired and then returned to part time work.
I've just been auto-enrolled in the NEST pension scheme.
My monthly contribution is small and easily affordable. It looks like my employer will match the contribution & it gets tax relief, so presumably will give a better return than putting the money in savings & certainly better than spending it on coffee and cake.
What I'm unsure about is what happens when I fully retire, which may be only 4 years away. At that point I estimate the fund will be worth a massive £2500. My research says it has to be used to buy an annuity, but I'm pretty sure no one will provide an annuity for such a small amount & if they did it would return loose change. In which case what happens?
In case it isn't obvious I'm not expecting to live of income from the NEST, I already have a pension and some savings.
