old DB pension

sandsy

RuleTheWorld wrote: »

the low figure actually suggests i would have been better off in a Dc scheme

employer 'contribution' was 38%
employee contribution was 12%

Except that's not the level of a typical employer contribution to a DC scheme (more like 6% average).

RuleTheWorld

thats what they were putting in - had to be high as the pension company was a different entity with their own objectives etc

* that's what they told us anyway

davieg11

RuleTheWorld wrote: »

the low figure actually suggests i would have been better off in a Dc scheme

employer 'contribution' was 38%
employee contribution was 12%

My old db scheme was similar as it had a massive shortfall. Keep checking every year for any shortfall getting lower or increasing, and ask yearly for a transfer value. My first DB pension ended up in the government protection fund and that means I can no longer get a transfer value to move it and if I retire early I cannot access it until age 65. I'm in the process of transferring my other 2 db schemes. They are small though compared to yours but I can plan to retire at 60 where I'll need a big chunk of money until the state pension kicks in at age 67/68.

RuleTheWorld

they dont send the newsletters to deferreds but will need to try and keep ear to the ground