DB advice

Turpinr

540k from 13k is massive. I wish I'd been offered something as generous as that.

232607

As alluded to in other replies, the transfer value is very high & I'd certainly be consulting 2 or 3 IFA's in the 1st instance.
There is of course some people on this forum who would not advocate transferring whatever the No's are. Each to their own I guess.
You'll need to decide what's best for you but hopefully a good IFA will be able to guide you.

kidmugsy

PT48 wrote: »

6k is the reduced pension from 50 years old (protected pension age ) Full pension is 13k from 62yo. Still a very generous CETV in my opinion

The best comparison would be at age 55 when the DC pension would be available (unless you pull off the "buddy" manoeuvre).

"very generous" as in "what on earth can the trustees be thinking of?"


It isn't by any chance that rare thing, a DB pension that's handsomely in surplus, is it?

Takaty

It's important that you see an independent financial adviser. People will understandably look at the huge numbers on offer and think it's a no brainer but you will need to consider your own appetite to risk, long term goals and the other assets you have.

Transfer values for DB scheme's will have been based upon actuarial advice.

If you are not comfortable in managing your investments if you do transfer then you can find an IFA to assist you but but beware of fees and whether the IFA is truly independent when recommending products.

It is unlikely but you could ask your DB scheme if they allow partial transfers. You could then retain some benefits in the DB scheme.