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Query around Defined Benefit Pension Transfer
Comments
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In fact having the DB scheme as a backstop , allows you to be braver with your DC investments .A balance sounds probably a good call and it is my aim to drive the performance of my current pension as much as I can over the next 18yrs or so.
Probably if you transferred the DB scheme , into one bigger DC pot only , you would probably be more cautious .
Most schemes do this ( sometimes it is only 4% ) but as you are getting the pension for longer it works out about the same as waiting to 65 in the end.Worth checking, my DB scheme deducts 5% ( if retirement is granted pre 65 by the company ) for every year before the age of 65, does yours ?0 -
Also I believe DB schemes are counted as 20 x income against the LTA, whereas DC pots count at actual value.0
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