Final salary but not final salary!

cloud_dog

Gary1984 said:

Are you sure you'd get the 15% employer contribution back to put into something else? Normally you'd lose this by opting out

What contribution does the employer make on the DC scheme? 

I am in a similar position to the OP, although probably more advanced in years   My employer will only add a maximum of 1% of any salary review increase to my pensionable pay.  Recently I was 'offered' a new role which would include a reasonable salary hike but we could not agree on terms, pensionable pay related so, I declined their kind offer (it was going to be a carpy role but I would have taken it for the right incentive, for my remaining years).

I have investigated the option of opting out of the DB scheme and continuing with the DC version but they, like a lot of companies, have taken the opportunity with auto-enrolment to lower their contributions, although they far exceed the mandatory minimum of 3% by offering 4%