Defined pension transfer

MallyGirl

maddie65 said:

xylophone said:

Other posters have commented on the proposed transfer -  to sum up, if you wish to proceed, the transfer value given last year is unlikely to be still valid so you would have to request an update (and possibly pay for it - see earlier post).

You will need full (not abridged) advice. This will not be cheap.

If the full advice is the same as the abridged and you wish to proceed, you will be an insistent client - you will have noted that finding a scheme to accept the transfer will not be easy.

You intend to continue full time work up to State Pension Age?

If you take the scheme pension now, you would have a modest tax free lump sum to enjoy  -  you could contribute the monthly pension  to a SIPP with a view to its eventually being inheritable by your children (one of your reasons for wishing to transfer out).

They sent me a new transfer pack which was roughly the same amount as the last one 

If I went to full advise and they still said no can I still transfer 
You can still transfer out but there are basically no providers who will accept a transfer in from an insistent client so at that point it is basically a non-starter and you will still be charged the £5k or whatever for the advice.

I will carry on working until retirement 

If I die before retirement then my pension dies with me one of the reasons to transfer and my children get nothing if still in scheme I am a divorced person which do not intend to have a partner so I feel it's not fair to single people who want to have a better life now and invest elsewhere 

added a comment above

Albermarle

so I feel it's not fair to single people who want to have a better life now and invest elsewhere 

On the other side having a DB pension is , all other things being equal,  a big advantage .
Typically a DB pension would need an employer to contribute at least 25% of your salary . 
Until a few years ago many employers did not offer a pension at all and therefore made zero contributions .
Even now the minimum is 3% and probably on average is about 5% .
So you have greatly benefitted from having a DB pension in the first place. So overall it is probably not unfair at all .

xylophone

You need to find a Pension Transfer Specialist willing to advise you - on the fairly modest CETV, this may in itself be difficult.

 If you find one, whatever  his advice (positive/negative in respect of transfer), you will have to pay for it (think in terms of thousands rather than hundreds).

If you decide you want to go ahead in the face of a negative report, you will need to find a pension scheme to accept the transfer  - you were referred to Deadly D's thread.