Hi,
I am considering moving job at the moment. The new employer has a Non Contributary Defined Benefit Pension scheme, which allows for AVC by employees.
I am 30. So if remained with the new employer until retirement with 30 years service, would this not entitle me to the maximum 2/3 final salary. And if so, why would I or any other employees wish to make AVC's. Is it for employee who were older when joining?
Also I am currently in a defined contribution scheme. Can/should I transfer this to the new non contributory scheme?
If I ever leave the new employer, is it possible to take funds from a non-contributory pension scheme with you to a future employer, the way it is possible with a defined contribution scheme?
Thanks
I am considering moving job at the moment. The new employer has a Non Contributary Defined Benefit Pension scheme, which allows for AVC by employees.
I am 30. So if remained with the new employer until retirement with 30 years service, would this not entitle me to the maximum 2/3 final salary. And if so, why would I or any other employees wish to make AVC's. Is it for employee who were older when joining?
Also I am currently in a defined contribution scheme. Can/should I transfer this to the new non contributory scheme?
If I ever leave the new employer, is it possible to take funds from a non-contributory pension scheme with you to a future employer, the way it is possible with a defined contribution scheme?
Thanks