Hi,
I am currently employed in the civil service and I have 9 years service in a Defined Benefit pension scheme. I am resigning my position to take up employment with a commercial semi state body. This commercial semi state body has a Defined Contribution scheme for new entrants but also has a Defined Benefit Scheme for existing employees. I have been told that I will have to join the Defined Contribution scheme as I am a new entrant.
My question is am I really a new entrant? Does my 9 years service in the civil service mean that I can transfer my service and join the Defined Benefit scheme that they operate for existing employees?
All replies are welcome!
I am currently employed in the civil service and I have 9 years service in a Defined Benefit pension scheme. I am resigning my position to take up employment with a commercial semi state body. This commercial semi state body has a Defined Contribution scheme for new entrants but also has a Defined Benefit Scheme for existing employees. I have been told that I will have to join the Defined Contribution scheme as I am a new entrant.
My question is am I really a new entrant? Does my 9 years service in the civil service mean that I can transfer my service and join the Defined Benefit scheme that they operate for existing employees?
All replies are welcome!