final salary

paul710

hi
my final salary pension provider has offered me money to move!
they have offered me a:money: plus up
i will lose spouse pension but my wife is a nurse and has a very good pension of 30 yrs service
is it a good move to go to a sip

thank you :money:

kinger101

At the very minimum, it would be helpful if you provided

(a) benefits currently accrued under the pension
(b) transfer out value
(c) your age
(d) your attitude to risk
(e) some idea on how you plan to draw your pension
(f) details of any other pensions


I suspect it would be best if you stayed in, as the limited information you've given suggests a self-managed pension might not be best for you.

MallyGirl

Nowhere near enough info.
What salary would you get if you stayed?
What is CETV?
What else, beyond spouse pension, might you be giving up?
Do you know anything about managing investments or would you use an IFA?

Bravepants

Of course your provider has offered you money to move, it means it would no longer have an obligation to pay your pension, nor your spouse's.



You don't think it is making the offer out of the goodness of its heart do you?

Brynsam

Do you mean and enhanced CETV, or just a normal one?

xylophone

What scheme benefits are offered for you/your spouse/other dependants?

Are you still contributing to the scheme?

Do you feel capable of managing a SIPP?

Have you and your spouse obtained state pension statements?


https://www.gov.uk/check-state-pension

How old are you?

What is the CETV?

If the value is greater than £30,000 is the scheme offering to pay the fees of a Pension Transfer Specialist to advise on the suitability of a transfer out?

kidmugsy

How many scheme members have received this offer?

Paul_Herring

is it a good move to go to a sip

You come across as thinking this is too good to be true.

It probably is. Too good to be true that is.


Supply the information requested in other posts before you get your hopes up; I fear you're about to be let down as to how bad the offer actually is.