DB Pension wind up

Our DB scheme is winding up with a deficit of 30% approx. I am due to retire July 2014 with 40 years service. Have not been offered any options yet but there is talk of new DB scheme or transfer to existing DC. In view of my limited time left with company I would appreciate any advice on best option for me.
Thanks

Very difficult to advise with so little information. If you only have one year to retire, then you should know what your projected benefits would be (ignoring underfunding).
If the DB scheme is wound up with 30% underfunding, then it's likely that your projected benefit will be reduced by 30% approx. The exact options really depends on how your employer/ trustees go about winding up the scheme:
# you might be offered a deferred pension , say 30% of your projected benefits
# you might be offered a transfer value to a DC arrangement
# you might be offered a hybrid/mix of both

I think you will just have to wait and see what is offered. Unfortunately since you have only on year to retirement, you will not be able to make up for any shortfall.