Final Salary Pension -take as is, or look for alternative financial product?

AlanP_2

Aegis wrote: »

It depends on so many factors. Risk tolerance, other wealth, time to retirement, health, family circumstances, etc.


In general, 30 or more near to retirement is pretty decent, but that doesn't mean transferring is automatically a good idea.

From what I can work out the quality of the DB scheme benefits seems to play a part as well.

I have a deferred DB that offered around 20x current annual pension amount BUT that scheme does not increase payments once you start to draw pension hence expected lifetime cost is a lot lower than if they increased by CPI say.

Whether you can infer from that that a 40x or 50x multiplier means scheme benefits are fantastic I don't know but suspect it's not quite as linear as that.

Albermarle

Also it depends on what other retirement provision you have .
I was offered 32X to transfer a DB pension with good benefits .
However I also have DC pots and other savings /investments so seemed sensible to keep a balance between fixed income and more volatile investments.