We have been given the following options for out pension :
1. Go DC and company will match contributions up to 10%
2. Stay DB but increase contributions from 7% to 10%.
3. Go DB CARE - Carerr Average REvalued Earnings.
Not sure which to go for. Am almost 40 and am in the pension for 15 years (since 25).
Looking at your options I think we work for the same company. Its a mixed bag here in terms of what people are doing but the feeling of the guys who work in my department is to take the DB final salary for the moment and when the dust settles get further advice. We believe that u can move from DB FS to DB CARE but not the other way. we are waiting to see what the budget will bring as well before committing long term
We must do! Have decided to do what you are thinking as well for the same reasons. At least we can opt out of the DB final salary but can never opt back in to it. It is 3% extra but will do it for the time being.
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