Pension Options Advice

My soulmate has a pension option decision, any suggestions,thoughts ?

Relatively small transfer amount 33k approx
1. Deferred pension of 4,300/annum payable from age 65, increased each year, CPI linked
2. Transfer to new employers scheme,a PRSA

suppose 3. defer and start new pension ?

Brief details:
Female, age 34
Ftime Housewife, mammy etc, out of workforce, but expect to be back in 1 yr

Relatively small transfer amount 33k approx
1. Deferred pension of 4,300/annum payable from age 65, increased each year, CPI linked

Is this a defined benefit or a defined contribution scheme?
Is it an occupational scheme?

Sounds more....

likely to be a DB scheme. If so I would be slow to move it.

Leave it

I concur. Back of envelope calculations...

€33,000 invested in a pension fund for 30 years at 6% would yield a fund of around €153,000 at 65. Say if she gets a 5% annuity rate then, this would produce a pension of €7,650 per year. If current deferred pension as offered is only revalued at 2% per year for the same period, it will be in excess of this.

And if you transfer out, you lose the huge value of the guaranteed pension. Your choice of pension plan might achieve 6%, it might not etc.

Unless the DB scheme is likely to become insolvent...

Re: Leave it

Thanks all, sound advice
leave it where it is seems to be the best option.
Incidently, Is a DB scheme, Co is a MN,around for years.

Glad i posted, great site, been viewing on and off for a while now.