any deal where you get free money is a good one
Total no brainer. You have a DB pension, right?
(dozers, do fuck off ur a nob m8, Wed 20 Aug 2014, 14:28, 1 reply, 11 years ago)

Long story. Started off as final salary, non-contributory, when I joined 20 years ago.
Then they capped the pensionable salary increases to 2% p.a. Now they've fucked that altogether and my final pensionable salary will be what I'm on NOW.

As a half-arsed apology for that, they're giving us a 3% bonus in Nov which I can either put in as an AVC or take as cash. Obviously I'm doing the former.

Cunts.
(Reverend Fister "a disciplined fuckwit", Wed 20 Aug 2014, 14:32, Reply)

still, DB schemes are extremely generous.
Most annuity clients don't take escalation as an option because the starting income is so low. Your pension will have automatic increases, that's where the value is.
(dozers, do fuck off ur a nob m8, Wed 20 Aug 2014, 14:34, Reply)

Does it? I haven't a fucking clue to be honest.
Will probably look at setting up some AVCs as well I think.
(Reverend Fister "a disciplined fuckwit", Wed 20 Aug 2014, 14:38, Reply)

very likely will.
Usually RPI.
(dozers, do fuck off ur a nob m8, Wed 20 Aug 2014, 14:39, Reply)

That's something at least.
But it pisses me off immensely that in my remaining career my salary could potentially double and it would have 0 impact on my pension.
(Reverend Fister "a disciplined fuckwit", Wed 20 Aug 2014, 14:44, Reply)

Plus I work from home, so stealing office stationary to supplement my income isn't really much of an option.

(Reverend Fister "a disciplined fuckwit", Wed 20 Aug 2014, 14:45, Reply)

then start saving to a separate private pension.

(dozers, do fuck off ur a nob m8, Wed 20 Aug 2014, 14:45, Reply)

Would that be better than putting AVCs into my current one?

(Reverend Fister "a disciplined fuckwit", Wed 20 Aug 2014, 14:47, Reply)

depends, I don't know the scheme details

(dozers, do fuck off ur a nob m8, Wed 20 Aug 2014, 14:48, Reply)