LGPS (police)

GunJack

not only the possibility of transfer-in, but once in the scheme you'll have spouse benefits as mentioned above, but what I haven't seen mentioned is the 2x or 3x (Silvertabby to confirm) salary in Death In Service Benefit for your spouse/partner should the worst happen while you're a scheme member...effectively free life insurance!!

ZeroSum

GunJack said:

not only the possibility of transfer-in, but once in the scheme you'll have spouse benefits as mentioned above, but what I haven't seen mentioned is the 2x or 3x (Silvertabby to confirm) salary in Death In Service Benefit for your spouse/partner should the worst happen while you're a scheme member...

Death in service is 3x salary

NottinghamKnight

A crude estimate for db schemes is typically 25-30% of salary as a rule of thumb but they are normally considered more valuable the older you are, so the 32% stated above may well be about right. That would make the salary packages broadly comparable. As well as providing certainty it looks fantastic value compared to any commercial annuity, an alternative income stream in retirement and allows flexibility in terms of drawdown from additional dc pots so many more pros than cons.

lisyloo

GunJack said:

not only the possibility of transfer-in, but once in the scheme you'll have spouse benefits as mentioned above, but what I haven't seen mentioned is the 2x or 3x (Silvertabby to confirm) salary in Death In Service Benefit for your spouse/partner should the worst happen while you're a scheme member...effectively free life insurance!!

Not an issue for us. My husband has his own pension and would get the house, plus my DC pot and savings.