DB pension goes into PPF questions

doris540

My OH company folded and along with it the old DB pension which is going into the PPF. They were transfered into a DC scheme in 2009 as the DB scheme was stopped. Hes also got his own private pension with The Pru.. He has another 8 years to go before getting to 65 which is the age on which the DB scheme was using as NR date. We know as it stands they will pay 90% of what he should have got. In the original paperwork it states that a TFLS can be took from the DB scheme. We know that also a 25% can be took from the DC scheme as well. One question is can a TFLS still be a option when the pension is paid by the PPF, and if so how do they work it out . About 4 years ago he asked for a CETV from the DB scheme which was around £90k. I gather that the amount will increase every year until he retires. Luckily he got another job within two weeks and had to claim everything from the government. As it stands The DC scheme has around £70k in it as does his Pru one. He is considering paying a largish sum into his Pru Pension from all his redundantcy money and everything else he was owed. So if anyone can shed a light on wether a TFLS is a option from the PPF and if so how is it calculated.

Brynsam

A tax free lump on retirement is indeed an option. See the PPF booklet https://www.ppfmembers.org.uk/~/media/Files/Booklets/When-you-retire.ashx