Defined Benefit Pension Dark Arts

A defined benefit pension is considered by many to be a 'gold plated' pension.

But are they as good as they are made out to be?

Well sometimes there can be some strange goings on with defined benefit pension which mean what you thought you were getting is not actually the case!

A Pension Increase Exchange, also known as a PIE, maybe offered to you if you are part of a private sector defined benefit pension scheme and are approaching the scheme retirement age.

The list of options when it comes to taking your defined benefit pension can be daunting.

You can’t afford to make the wrong choice because once chosen it is irreversible.

It’s impossible to decide which retirement option is best for you without a thorough analysis of the implication of each.

Defined Benefit Pensions And The State Pension Reduction.

The State Pension reduction could significantly reduce your income in retirement once you start taking your pension.

If you are due to receive a defined benefit pension at retirement then you need to check to see whether your scheme will apply a State Pension reduction.

For more help and guidance including our free '10-minute retirement plan' visit www.rtsfinancialplanning.co.uk

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