DBF less State Pension

Hi All,

My question is : I contribute to a Defined Benefit Fund where my entitlement is max 50% of my final salary less the state pension. Note i also pay the full Prsi rate A1. If under proposals the company caps the max benefit from the DBF to 32,500 then my position will be {32,500k less 20,000k state pension contributory = 12,500} this all means that i will have contributed well in excess of what it is max possible for me to get back from my DBF. Surely if it is a mathamatically certainty at the outset of ones Pension plan that its not possible to even recoup when you contribute you could argue your case for being allowed to exit the plan and contribute to a defined contribution scheme instead.?
Hope that makes sence.

Many thanks for any feedback.

I assume that your DB scheme operates on an "integrated" basis with the State Pension. If so, the following example illustrates the logic:
Salary €60,000
State pension €12,000
Pensionable Salary €60,000 less 2 x €12,000 =€36,000
DB Pension 50% x €36,000 = €18,000
Total Pension = € 18,000 + €12,000 = €30,000 (50% x €60,000)

And your contribution should be based on the reduced Pensionable Salary of €36,000 not the €60,000 figure. On that basis your contribution and DB pension are based on the same figure. So I doubt you are over-contributing.

DBF - Contributions

Thanks Conan ... i will have to investigae further perhaps i miss understood the position.