Pension advice please

Schomojo

Hi all
New to this forum so please be gentle.
I am a little way off retirement but am trying to get my head around what I have in my pension kitty and would appreciate some advice.
I have a frozen Defined Benefits Scheme with Vodafone from a previous employment. Would I be right in saying that a guaranteed transfer value would be similar to the fund value? The current transfer value (I have no intention of transferring) is approximately £100000. What I am trying to ascertain is that if I was at retirement age now would this be the amount available to me
Hope this make sense

dunstonh

I have a frozen Defined Benefits Scheme with Vodafone from a previous employment.

its unlikely to be frozen. more likely to be deferred if its a defined benefit scheme.

Would I be right in saying that a guaranteed transfer value would be similar to the fund value?

No. The fund value on money purchase pensions is just that. The transfer value on the defined benefit scheme is a cash value for giving up the benefits.

What I am trying to ascertain is that if I was at retirement age now would this be the amount available to me

No. You need to look at the benefits of the pension with defined benefits plans. There is no investment pot with these. The statement of benefits should tell you what you need to know.

Schomojo

Thanks for your quick response

Most appreciated