M
Margo1
Guest
Hi,
First time poster - this forum is great by the way (thank-you!) - I used it when buying my houses and also for savings advice. First time looking at Pensions forum!
I've been offered a position with a new company (currently considering the offer). I'm in my early thirties and have been paying into my current companies DC pension scheme for about 7 years (they pay 5% and I paid 5% up until last year when I raised my contribution to 8%).
The new company have a Defined Benefit scheme - I have little understanding of these but read the key posts. My question is that if I leave this new company after 2 or 5 years, what "real" value would this DB pension be (currently it's being offered as a key selling point of the new job)? Surely DBs are only beneficial if you stay with the company until retirement age.
Forgive my ignorance - any advice greatly appreciated
First time poster - this forum is great by the way (thank-you!) - I used it when buying my houses and also for savings advice. First time looking at Pensions forum!
I've been offered a position with a new company (currently considering the offer). I'm in my early thirties and have been paying into my current companies DC pension scheme for about 7 years (they pay 5% and I paid 5% up until last year when I raised my contribution to 8%).
The new company have a Defined Benefit scheme - I have little understanding of these but read the key posts. My question is that if I leave this new company after 2 or 5 years, what "real" value would this DB pension be (currently it's being offered as a key selling point of the new job)? Surely DBs are only beneficial if you stay with the company until retirement age.
Forgive my ignorance - any advice greatly appreciated