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Been offered (what seems) a rather attractive amount to "buy" out my final salary scheme from a previous employer (around 32x the pension payable at retirement age), figures look great but have to weigh the risk of losing a guaranteed amount +rpi for the rest of my life against transferring and the risk of a stock market/bond market crash and wiping out a big chuck ahead of retirement.
The trouble with pensions is that if you retire and then 3 years later get the bad cance and fall off your perch, the pension company has a great big chuckle and trousers your dosh. (Yours may ahve a widow's pension included, I don't know, I'm riffing here.)Quote:
Originally Posted by Pokster
Given the option I'd rather have the cash invested by my chosen broker/IFA so that I have a semblence of control and so the capital remains within my estate when I've gone.
THAT is the main reason i would look to switch.... why should the pension stay with the old company if i peg it and she would get hardly anything??? But the figures look almost too good to be trueQuote:
Originally Posted by Sir C
Hmm. You know what they say about things which seem too good to be true?Quote:
Originally Posted by Pokster
Go for it and stuff the consequences????Quote:
Originally Posted by Sir C