I want to take CETV but firm is running down the time waiting for call back to move things along

RoadToRiches

TVAS said:

Concerns about the scheme. National Grid make profits every year so said concerns are unfounded by the facts. 

Lets just say that the scheme has deficit, they tried to fix this by sectioning of the NG scheme into 3 sections.  Then limiting final salary payout by introducing a concept of a capped salary, caped yearly increases, reduced employer contributions and increased employee contributions. 

Then National Grid decide to sell off all their stake in Gas Distribution, just after we were all kicked out of the DB scheme into a DC pension, meaning they have no stake in the gas market at all.  Wider in NG I see this part of the scheme winding up as a result of this sell off.  Then Pension Protection Fund will kick in and immediately anyone left holding this DB scheme will loose 10% of their pension.

I would add to this that I asked a question around this to the scheme administrators about the sell off of Gas distribution and they came back with they could not answer the questions, that rings alarm bells in my head straight away.

As I say I have a IFA now to work with.  I believe I have a very good case to take the CETV, not just based on the solvency issue of the above DB scheme.

NotaBene12

RoadToRiches said:

I now have a plan for this, thank you all.

I'm in a similar situation - I find it impossible to get an IFA to sign off my transfer from a DB plan to a SIPP.

Would you share what your plan is?