Pension Transfer

[apd]

Hi,

I left a previous employer 2 years ago. The company had a Defined Contribution scheme. My transfer value out at the time was 80K approx.

I joined a company with a Defined Benefit scheme and transfered that money in.

I expected the funds to go into an AVC or seperate pot. As any money I transfer directly into the defined benefit scheme is simply subsidizing my current employer. Because they would need to make up any short fall in funds come my retirement anyway. And if the fund is over funded then my contributions are wasted.

Am I correct? What should happen in this situation.

Thanks

 

[Don_08]

Your transfer in should either have purchased you "added years" in your DB scheme or be invested in a seperate DC pot. I would check this out. You should definitely have some benefit from it.