Drawing pension at earliest opportunity

Hoenir

pterri said:

Hoenir said:

One of my deferred DB schemes had a guaranteed 5% per annum uplift. Doesn't sound much but compounding over a full 25 year period was rewarding. 

That’s good, are you sure it’s not CPI or RPI but limited to 5%? 

No was a fixed %. Was an old well run family business that valued their employees staying with them.  In retirement my annual uplift remains 5% despite the scheme liabilities having passed onto an insurer. 

GunJack

This thread is a good example of how you can't generalise about DB pensions as readily as you can with DC.

I've got 2 - first 20 years if work in the CS, in deferment full RPI then CPI and same in payment, NPA 60. Then 17 years in company DB until it shut this April, while deferred and still working for the company it increases at CPI (max 5%) +1 so max 6. After leaving the company but still deferred it drops to max 2.5 or CPI if lower, NPA of 65.