Hi All,
I will be joining my company DB Pension Scheme in January 2015.
The company contribution is approx 8% of salary and my contribution is approx 8% of salary. I plan to pay another 10% of salary in avcs.
My question is:
Due to the nature of my position I am aware that most likely the DB pension scheme will be wound up probably around the end of 2017.
I would imagine that what will continue after this will be a DC scheme.
In the event that this happens- will my avcs be safe when looking to transfer from the DB scheme to the DC scheme?/ Are there any other issues I should think about when joining the DB Scheme in January.
The DB scheme is currently fully funded and the expectation is that it will stay that way.
Many thanks for any thoughts
I will be joining my company DB Pension Scheme in January 2015.
The company contribution is approx 8% of salary and my contribution is approx 8% of salary. I plan to pay another 10% of salary in avcs.
My question is:
Due to the nature of my position I am aware that most likely the DB pension scheme will be wound up probably around the end of 2017.
I would imagine that what will continue after this will be a DC scheme.
In the event that this happens- will my avcs be safe when looking to transfer from the DB scheme to the DC scheme?/ Are there any other issues I should think about when joining the DB Scheme in January.
The DB scheme is currently fully funded and the expectation is that it will stay that way.
Many thanks for any thoughts