We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide

Redundant at 54 DB Pension

cdbhel · 2018-05-10 09:48:08

Hoping someone can help here please. We are in a situation where my husband has a redundancy notice for end July. He will be 55 in December. He has paid into his DB pension since March 1989. He has been told that if he wishes to take his pension (with a 3% reduction per year) then he will not be entitled to his redundancy…

Comments

k6chris Posts: 787 Forumite

11 May 2018 at 5:45AM

kidmugsy wrote: »

The reductions are reductions per annum.

You should check if the reductions are calculated as a flat rate or additive? ie 10 years x 3 % = 30% (flat rate) or 3% off one year, then 3% off that one year figure etc etc. - That works out at about 26%. Can you get exact numeric quotes?

"For every complicated problem, there is always a simple, wrong answer"
0