I have preserved pension benefits in a defined benefit scheme with a private company that I left a few years ago after 30 years service.
I am 62 years. There is no solvency problem with the DB pension scheme, and I am allowed take a transfer of my preserved benefits, which I am considering doing. I know the general advice is not to transfer from a DB scheme, but it suits me to take a transfer for personal reasons.
I know I can transfer to a Buy out Bond. But the Buy out Bond does not give me the option of going for an ARF, I can only buy an Annuity with the bond. I am not keen on buying an annuity. Is there any way I can do a transfer that would give me the ARF option. I was not a director in the company. I am unemployed, and unlikely to be in employment again.
I am 62 years. There is no solvency problem with the DB pension scheme, and I am allowed take a transfer of my preserved benefits, which I am considering doing. I know the general advice is not to transfer from a DB scheme, but it suits me to take a transfer for personal reasons.
I know I can transfer to a Buy out Bond. But the Buy out Bond does not give me the option of going for an ARF, I can only buy an Annuity with the bond. I am not keen on buying an annuity. Is there any way I can do a transfer that would give me the ARF option. I was not a director in the company. I am unemployed, and unlikely to be in employment again.