TFLS and CETV being increased in my deffered DB pension?

jimi_man

I might have missed it but what age will you be when you get the TFLS from the DB? 25:1 is a good commutation rate at age 65, but a bit poor at age 55. 

Age is the crucial factor in working out commutation value.

RogerPensionGuy

jimi_man said:

I might have missed it but what age will you be when you get the TFLS from the DB? 25:1 is a good commutation rate at age 65, but a bit poor at age 55. 

Age is the crucial factor in working out commutation value.

Getting commutation X rate of 25 @ age 62.

It was ab X rate of  about 22, but just been moved up along with any CETV quotes just lately.

Certainly looking like my DB scheme wants more people to take CETV and TFLS about 5 years years ago they changed the allowing partial CETV CETV transfers. 

Up until very lately I wasn't going to water down my DB scheme, but with the X rate going up and the last change on the LTA, watering down looks okay to me.

Plus I like the current IHT DC possibilities and I've essentially stopped topping up my DB and DC scheme, so hoping when the government next tinkers with pension stuff I hopefully going to be treated as when previous negative changes were made.

It looks OK for me, but horrible for people who intend on doing more contributions, that LTA treatment made me keep changing my pensions these last 5 or 7 years and looks like I've been very lucky delaying DB scheme activation just hoping they would up the LTA to 1.5, 1.8 or put it to about 2.4, this 2.4 is where it should be as a minimum looking at inflation. 

I'll just keep noting the press and whatever pops up in the autumn statement later this month fingers crossed.