DEFINED BENEFIT 25% Tax free.

hyubh

Gig1968 said:

This pension was with a company called Powergen who are now owned by EON. 
I have a similar one with a company called NPOWER who are now owned by RWE.

As in this, administered by RPMI...?

https://myeonpension.com/my-membership/i-am-a-deferred-member
https://www.rpmi.co.uk/contact-us/esps-contacts

The FAQs mention the possibility of an ill health retirement. But my original advice remains, ask the current scheme administrator (not 'the company').

I might just transfer this to a private pension pot.

Unclear why to be honest, given you're on benefits. Ditto the more basic desire to take out as much cash as you can - why do you not want the pretty secure income instead...?

happyc84

Hi Gig1968, sorry to hear about your situation. I also work for a previously nationalised Electricity company, you should have access to the 2 pension schemes as these will have been deferred when you stopped paying  into them.
I found information from past pension statements and whats on-line. So would echo the advice to contact them.

Good luck.

Albermarle

I have not yet applied for I'll health yet as I might just transfer this to a private pension pot.

You should be aware that even if you want to transfer it can prove difficult. The financial authorities generally disapprove of DB transfers and it is quite difficult to get through the process successfully nowadays. So you should keep in mind that it may not be a viable option for you, and quite possibly the wrong option anyway . 

Gig1968

If I get my first I'll health pension that will lock me in to a decent sum each month.
The second pension i would rather move to a private pension and take the 25 %  tax free lump sum.
I understand your comments Albermale. But 
Would the IFA not be persuaded by the situation. Although my illness doesn't mean I'm terminally ill. I'm at much greater risk of death than the rest of the population. Anyday. Who knows. 
Thank you Happyc84 I had conversations with RPMI but basically told i had to wait till the process had to be completed on my case. The scheme booklet is not detailed enough on I'll health retirement. It's basically three times the salary and a monthly pension but no more than that.
As I'm single I'd rather get this process moving now.

Albermarle

I understand your comments Albermale. But 
Would the IFA not be persuaded by the situation. Although my illness doesn't mean I'm terminally ill. I'm at much greater risk of death than the rest of the population. Anyday. Who knows. 

I am sure the IFA/pensions transfer specialist will take it into account, but they will also look at the rest of your financial situation . The fact you will have one guaranteed pension income in payment will also help.

You most likely have a better chance than most to get a positive recommendation to transfer, but it is not a given.

Lots of threads on this forum about DB transfers and the associated problems.

Gig1968

Thanks Albermale. Yep I have looked at fair few posts  and I see how much fun it is with advisors. 
I just don't see the point in having two pensions for the rest of my life, when I can have a significant lump sum in my own pension pot ready for use if I ever needed it.).  As I say I have an estimate of the transfer value of the second pension pot it's life-changing for me.