Deferred DB Pension Statements - Sanity Check

cloud_dog

Hi

So, I will be stopping work and commencing the rest of my life on 28 March, and after another post on here and comments / feedback I have been reassessing how we proceed with the different schemes / pots we have.  Specifically whether to draw the DB scheme earlier than NRA (original / current plan).  I have been chasing for an updated statement and have finally got one for April 2024, which I am very happy with, but therein lies my concern.

My deferred statement at date of leaving (30 April 2023) was and stipulated the below structure to increases:


The bit highlighted in red is correct and was a older DB scheme transferred in, and relates to benefits earned from c. May 1988 until March 1994.

My new statement shows:


100% of the deferred benefit has received indexation based on Government guidelines.

Have they made a mistake and applied indexation to a portion of my deferred benefit that should not have received any benefit increase, and are they going to take away my euphoria

Just as a note, I have requested a formal quote of benefits to be taken in November 2025 (so 5 years early). 

pterri

Congratulations! My official date is still the beginning of April. I’ve got a discussion this week for some other options for a few months, will need to be very attractive to keep me hanging on. It’s a sunny day today, I should be on my bike.