Defined benefit pension Roche Products - best option advice appreciated

QrizB

Albermarle said:

One aspect to consider is that the more guaranteed income you have ( DB + SP), the more risk you can take with the investments in your DC pots, which in the long run should benefit you financially.

That was my thought, too, reading this.

OP what level of income are you looking for in retirement? Do you have a spouse/OH and (if so) do they have their own pensions or will you be the major income source (I'm assuming they have a full state pension, at least)?

Do you have a pressing need for a £50k tlump sum?

£23k pa of triple-locked SP + 5%-capped DB makes a good floor for retirement. Your £160k DC itseslf will yield a £40k tax-free lump sum, then the £120k could let you add another ~£6k of index-linked annuity to that (best buy table here), for £29k pa. (Or you could draw down and potentially do better, or worse.)

Marineboy1961

Thankyou so much for this !

Marineboy1961

Thanks again for this its helping me to make better informed decisions ... 

Marineboy1961

Sorry one last option is I could transfer my DC 160K pot into my NHS Pension depending on what offer they come back with.
I have been there for 10 months , and plan to work their till retirement (SP age) probably 67  (currently 63 yrs 10 months)
Last thoughts from anyone much appreciated!
best wishes 
P

QrizB

Marineboy1961 said:

Sorry one last option is I could transfer my DC 160K pot into my NHS Pension depending on what offer they come back with.
I have been there for 10 months , and plan to work their till retirement (SP age) probably 67  (currently 63 yrs 10 months)
Last thoughts from anyone much appreciated!

See what they offer you. It could be a good deal; a decent index-linked and uncapped DB.

Marineboy1961

Brilliant I have put all the forms through to NHSBSA I now await many thanks