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What would make you consider DB to DC transfer

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  • kuratowski
    kuratowski Posts: 1,415 Forumite
    Sixth Anniversary 1,000 Posts Name Dropper Photogenic
    edited 29 August 2021 at 9:50AM
    I think - from previous posts by HappyHarry - extent by which the DB is inflation-linked is a factor that is considered.
  • Pablo7474
    Pablo7474 Posts: 192 Forumite
    Third Anniversary 100 Posts
    You reckon an adviser is going to say that you give up a pension that may provide some inflation protection with a transfer value that could half overnight? How many risks are there you are taking on by transferring? There is no way an adviser should recommend a transfer out based on this. 
  • Silvertabby
    Silvertabby Posts: 10,123 Forumite
    10,000 Posts Eighth Anniversary Name Dropper Photogenic
    The LGPS is fully index linked and transfers are nearer the 20X mark.

    Yet people still do it.
  • Albermarle
    Albermarle Posts: 27,820 Forumite
    10,000 Posts Seventh Anniversary Name Dropper
    Silvertabby said:
    The LGPS is fully index linked and transfers are nearer the 20X mark.

    Yet people still do it.
    They must be mad !
  • Pablo7474
    Pablo7474 Posts: 192 Forumite
    Third Anniversary 100 Posts
    All because they think they need flexibility which they never had in the 40 years of work, so why now!! 
  • RoadToRiches
    RoadToRiches Posts: 220 Forumite
    Fourth Anniversary 100 Posts Name Dropper
    edited 29 August 2021 at 10:47AM
    Silvertabby said:
    The LGPS is fully index linked and transfers are nearer the 20X mark.

    Yet people still do it.
    Mine was 45x and not fully indexed linked hence not LGPS.  But there were reasons why it would make sense in your example, such as shorter life expectancy and wanting to leave a legacy.
  • Silvertabby
    Silvertabby Posts: 10,123 Forumite
    10,000 Posts Eighth Anniversary Name Dropper Photogenic
    RoadToRiches said:
    Silvertabby said:
    The LGPS is fully index linked and transfers are nearer the 20X mark.

    Yet people still do it.
    Mine was 45x and not fully indexed linked hence not LGPS.  But there were reasons why it would make sense in your example, such as shorter life expectancy and wanting to leave a legacy.
    Yes - limited life expectancy and no dependants would indeed make sense - but that would only apply to a very small number of transfers out.

    It's apparently not as bad now as it was just after the 'pension freedoms' were announced, when our 'phones went into meltdown with transfer out enquiries.  Possibly because it's become so much harder to obtain the necessary advice.
  • Cus
    Cus Posts: 779 Forumite
    Sixth Anniversary 500 Posts Name Dropper
    I was recommended to transfer, and I was in my early 40's.
  • Pablo7474
    Pablo7474 Posts: 192 Forumite
    Third Anniversary 100 Posts
    Cus said:
    I was recommended to transfer, and I was in my early 40's.
    Was this a while ago? Were there good reasons to transfer beyond good value? 
  • Cus
    Cus Posts: 779 Forumite
    Sixth Anniversary 500 Posts Name Dropper
    It was 5 years ago. Just very good value, no other reasons.
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