Civil service fixed term contract alpha pension scheme query

hugheskevi

Universidad said:

I don't know the answer to this, but if considering transferring out at the end, is it not probable that partnership could come out ahead and/or be less hassle?
I would join alpha and transfer something in, in order to lock in that extra guaranteed income, but if it's going to end up in a DC pot anyway I wonder if it's worth cutting out the middleman... 

It would definitely be less hassle. It almost certainly be less money, except for the youngest members ensuring they are getting the 3% match in Partnership. 

Although the likely increase to SCAPE discount rate at next review will reduce transfer value of alpha, so a bit of crystal ball gazing needed 

SimonSeys

MFMP says they are in their 50s, with a decent pension already banked, so it might be that the 18% employer contribution to Partnership might be more useful than 2.32% per annum from aged 65 / 67 (or half that from 55 / 57).  I think the majority are better of under Alpha but there are a few (like me) would would prefer the money now and not later. 

MFMP

Grateful thanks to all contributors to my thread. Its all been very helpful in clarifying some thoughts. There is so much info to compare on the various options and you've all helped focus my mind. 

I'll weigh up the whole job offer package versus any other job offer I receive in the coming weeks.