I posted previously about a significant drop in Transfer Value value between 2022 and 2023.
My retirement date under this DB scheme was a few weeks ago and while the TV had gone up slightly it's still miles off what it was 2 years ago. I haven't yet taken my benefits or indeed decided how I want to take my benefits (ARF or guaranteed pension).
My question is if I don't take benefits for say the next 12 to18 months and interest rates fall as all indications are that they will, what is likely to happen to the transfer value?
And just to be clear, my benefit date has come and gone and I know I can't defer taking my benefits as such. But I haven't communicated what I want to do. And if I don't do anything for a period of time will the TV be frozen at it's current level or will it react to any interest rate decreases? In other words if I don't advise the administrators for 18 months what i want to do and in that time interest rates have decreased significantly, will the TV increase or be frozen at it's benefit date level.
My retirement date under this DB scheme was a few weeks ago and while the TV had gone up slightly it's still miles off what it was 2 years ago. I haven't yet taken my benefits or indeed decided how I want to take my benefits (ARF or guaranteed pension).
My question is if I don't take benefits for say the next 12 to18 months and interest rates fall as all indications are that they will, what is likely to happen to the transfer value?
And just to be clear, my benefit date has come and gone and I know I can't defer taking my benefits as such. But I haven't communicated what I want to do. And if I don't do anything for a period of time will the TV be frozen at it's current level or will it react to any interest rate decreases? In other words if I don't advise the administrators for 18 months what i want to do and in that time interest rates have decreased significantly, will the TV increase or be frozen at it's benefit date level.
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