Should I defer my DB pension?

kidmugsy

jerrysimon wrote: »

My wife has a small DB pension worth 3K at 60

Is hers also one of those DB pensions that can't transferred to a DC pension? If it isn't, it might be worth her asking for a quotation of her CETV.

I think people can be a bit gung-ho about transferring out of DB, but your own decent DB pension might allow the pair of you to wonder about the advantage of her transferring. It might allow you both to enjoy a much bigger income until your state pensions start.

jerrysimon

Its with LGSS. Actually I did ask for a transfer value I had forgotten about that. I think it was around 60K.

Hmmmm

PS ust checked it says LTA = 67K ?

Just found some more paperwork when I enquired last October after she gave up work. It appears its split from when she had a final salary component and an average salary component. It appears that Total Transfer Value is 50K ?

The figures are confusing I need to look into it more. Plenty of time as we are not taking hers yet as I said.

Def something to think about.

Jerry