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Would like some thoughts re pension
kbarty
Posts: 634 Forumite
Hi there,
first of all thanks for taking the time to read this.
My husband works for an electricity company and has the opportunity to join the pension scheme. He has been offered either the Defined Benefits or Defined Contribution scheme. As far as I can see the Defined benefits is a 5% contribution for a 1/80th of final salary. There is also an enhanced option for a 7% contribution for 1/67th of final salary. The Defined contributions scheme requires a 4% contirbution. They don't seem to have provided us with much more information than that. I'll probably e-mail and see if I can get any more info later this afternoon. Although I don't know what I need to know!
My husband is 32 and doesn't have any pension so far.
I have limited knowledge of pensions but only personal pensions from over 10 years ago when I worked in the industry. As far as I'm thinking the Defined Benefit scheme is the one to go for and we're thinking of going the enhanced route, but I'd like to know if anyone has any comments on it? I know we can't get advice
Thanks,
first of all thanks for taking the time to read this.
My husband works for an electricity company and has the opportunity to join the pension scheme. He has been offered either the Defined Benefits or Defined Contribution scheme. As far as I can see the Defined benefits is a 5% contribution for a 1/80th of final salary. There is also an enhanced option for a 7% contribution for 1/67th of final salary. The Defined contributions scheme requires a 4% contirbution. They don't seem to have provided us with much more information than that. I'll probably e-mail and see if I can get any more info later this afternoon. Although I don't know what I need to know!
My husband is 32 and doesn't have any pension so far.
I have limited knowledge of pensions but only personal pensions from over 10 years ago when I worked in the industry. As far as I'm thinking the Defined Benefit scheme is the one to go for and we're thinking of going the enhanced route, but I'd like to know if anyone has any comments on it? I know we can't get advice
Thanks,
Debts - [STRIKE]£9925.64[/STRIKE] £8841.88 :T Aiming to get below £9k by the end of Oct. 
:D:D November aim - sub £7.5k! :cool:
Just Say No November - Challenger 19 ~ Groceries £0/£160 ~ NSD's 1/25 ~ Money made £6/£80
:D:D November aim - sub £7.5k! :cool:Just Say No November - Challenger 19 ~ Groceries £0/£160 ~ NSD's 1/25 ~ Money made £6/£80
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