To Transfer or Not To Transfer, that is the question.

BurntOut

I've been with a new employer nearly 5 years now. I have saved in the pension scheme from the beginning, now through promotions etc I pay in 5% and the company pay in 13% = 18% total. It is a Defined Contribution Scheme

I have an old Defined Benefit one from a previous employer, with total member contributions = £5544 (recent statement).

Would there be any benefit in moving it to my new employers scheme, or should I simply leave it where it is?

Thanks is Advance

dunstonh

Would there be any benefit in moving it to my new employers scheme, or should I simply leave it where it is?

Without doing a cost/benefits analysis we cannot say for sure. However, statistically, 9 times out of 10 you are better leaving a defined benefit scheme where it is.

mania112

You'll be moving from a risk-free pension to one which could fall in value and not perform well enough to better the benefits of the DB scheme.

As said, it's rarely a good idea.

BurntOut

Thanks for the info, I'll leave it where it is.