What to do with frozen pension?

xylophone

http://www.tescoplc.com/index.asp?pageid=63
Tesco is a DB scheme.
http://www.guardian.co.uk/business/2012/mar/13/tesco-pension-changes-work-longer-cpi

The OP would need an IFA to agree the transfer - would one agree to sign off a switch to a DC scheme? (Switch into Sainsbury FS scheme or Career Average scheme is not permitted.)
http://www.jspensions.com/Default.aspx?pagename=SPS-Sainsbury%E2%80%99s-Pension-Scheme-Guides

I assume the booklet relevant to OP is the one below.

http://www.jspensions.com/Sites/Sainsburys/library/files/Sainsburys%20MT%20Members%20guide%20August%202012.pdf

kidmugsy

stuarth1977 wrote: »

Well as far as I know Tesco only increase it in line with inflation?? I would assume I could get more growth if I moved it? Or is it best left?

Apologies; I muddled Tesco and Sainsbury's in my comment.

jamesd's comments seem wise to me. Here's another thought: is there any chance that you might work for Tesco again some day? If so, would they let you re-activate your pension i.e. contribute to it again on the same terms as before? If so it might be prudent to leave it alone. After all, if Tesco change their pension arrangements it's likelier to be to a less generous scheme, and therefore it could be to your advantage to be a member of the old scheme.