Transferring out of Defined Benefit pension

zagfles

bostonerimus said:

zagfles said:

bostonerimus said:

I'm late to this, but the OP is getting a nice payout that's 57x the annual pension payment.

Where did you get 57x from? 479/13 = 36.8x

I'm using the OP's first post, 800k/14k = 57ish...it's back at the very beginning before all the silly muscle flexing and name calling began.

All that discussion in Jan is irrelavent. The thread was resurrected in May by other poster and that's what we're discussing now. No point resurrecting discussion about the OP who shows "Last Active 14 January at 4:07AM." so unlikely to see it.

[Deleted User]

salsa1 said:

So can I take it that you all do not think I  should transfer away from my DB Pension please?  Thankyou

Can't speak for other posters but my disinterested advice would be to transfer your current pension to a SIPP instead (you don't have to do it now).
Bunch of reasons but consider these:
1) You would be risking less than half a million.
2) Yet if you indulge a more adventurous spirit and your transferred investments take off and double, you shant have to worry about LTA. DB pensions are calculated very favourably in that respect. 
3) You won't have to engage a Financial Adviser.

soulsaver

salsa1 said:

I have a frozen final salary (DB) pension for 28 years service. I have requested a transfer value and it is £479K. My annaul DB pension at 60 would be £13K. I am 55 and definately do not want to work past 60. £479K seems a lot of money to me and I would have to live 36 years (til Im 96) to get that back. Also the option of taking more when Im younger and healthier and the ability for my husband and children to have the inheritance when I die sound good.  Despite this everywhere I read says in most cases a DB pension is the best option. 
Can I have you advices please.
Thankyou

I'd transfer out in those circumstances.