Defined benefit changes should he retire

[partnership]

Listening to all the news about DB schemes and deadline of June to get things in order. Will companies who have a defecit in their schemes now move to change entitlements. A friend is in a db semi state scheme has 40 years done but cant afford to go. Is it possible he could end up getting a lower pension if he stays on and if so should he retire now and try to get job elsewhere. He is paying into pension now for no extra benefit.

 

[Palerider]

Yes that is possible even probable, often moves from pension accrual of 1/40 for each year of service to 1/60 or 1/80,there are many examples of this out there.