Hi there,
A quick question - I have a company contributed DB pension (circa 10% of salary), pays out when I reach 65, I've had it for 5 years.
My question is this - when looking at salaries etc. for other jobs I find it hard to evaluate the value of what I've got with this pension and what I would need to suppliment in a new job that didn't have this employer contributed DB pension.
...is there any way of roughly working this out? is there a rule of thumb I could use to figure out how much higher a new salary would need to be to equal the kind of value I hold in a DB pension. Is it possible?
Thanks - answers greatly appreciated.
A quick question - I have a company contributed DB pension (circa 10% of salary), pays out when I reach 65, I've had it for 5 years.
My question is this - when looking at salaries etc. for other jobs I find it hard to evaluate the value of what I've got with this pension and what I would need to suppliment in a new job that didn't have this employer contributed DB pension.
...is there any way of roughly working this out? is there a rule of thumb I could use to figure out how much higher a new salary would need to be to equal the kind of value I hold in a DB pension. Is it possible?
Thanks - answers greatly appreciated.