I was in a DB plan for a year with an employer, and left the company / scheme in 2003.
At the time the scheme was very limited, only allowed to join in Feb each year, set contributions of 2% which you had to wait a year to increase (i had requested 15% and was told I had to wait until following year), you had to be over 25 to join.... I did find it one of the most convoluted and user unfriendly plans I had encountered.
I'm now looking at moving this benefit to my current employers DB scheme, and asked for a statement of its worth.
Am I better to keep it where it is (I'm 35, aiming at retiring at 60), or move it to new employers scheme?
I've just discovered that the value of my plan is exactly what was put in up to 2003, to the cent! Should it not have have some increase over this period?
My other plans AVC statement have all increased in line with the market, why hasn't this one?