So I'm currently thinking of moving jobs.
My current job has a DB scheme which I am a member of for the last 5 years, I'm 34 now.
The new position has a DC scheme with decent contributions from the employer.
However talking to a few people they are saying not to ignore the value of the DB scheme and it should be a large factor in my decision. I know the differences in the schemes and am trying to put a notional value on the DB Vs DC scheme, difficult I know with the nature of investments in DC schemes bu I may use it as a bargaining tool in the new role.
Any advise on what it's really worth, given the duration of my service and age till retirement?
And if I do decide to leave should I leave the current funds in the DB and get the deferred benefit? From my research taking the money out of a DB generally is not the best idea as the deferred payments will likely be better than any investment.
The job I'm in now is good, I was basically headhunted for the new role and I wasn't too pushed on it at the beginning. I'm leaning towards it now, but just want to ensure I don't make an error of judgement on the value of the DB that I may regret in the future.