lifecycle/glossary/revaluation.htmlAccording to the pensions authority (see below link): "A preserved benefit payable to a member from a defined benefit pension scheme will normally be revalued over the period from the member’s date of leaving service to 1 January prior to the date the benefit becomes payable. The rate of revaluation for any full year will broadly be the increase or decrease in the Consumer Price Index in that year, subject to a maximum increase of 4%. The revaluation percentage for any year is prescribed by the Minister for Social Protection by way of regulations following the end of the year."
DB schemes haven't had to provide deferred members with annual updates until this year, so it's likely OP hasn't had anything from them since leaving the scheme (but should get something soon).You should be getting annual updates from the administrator
Do they have your current address?
Yes. The SFT limit (in reality its €2.15m) includes all pension benefits. DB pensions are valued using a multiplier, depending on the exact benefit. Typically the multiple might be c25:1. So a DB pension of €4,000 might be valued at €100,000 for SFT purposes.Thanks to all the contributors. Mose useful.
One further question......is the actuarial value of such a small DB pension also included in the Standard Fund Treshold (SFT) calc for €2M ? If so how it the value derieved ?
Curious, I always assumed that DB scheme's were linked to final salary.
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