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Pensions

15 Jul 2017, 13:44

Hi

I have a final salary DB pension (from 1981 to 1994 when I left). I would like to transfer it out and have as a sipp or pot. But PO pensions say they will only give me a CETV if I sign to transfer and keep as a DB. With all the new pension options out there is, is there something I can do? (I have a incurable life limiting condition). Thanks. Julie.

Pensions

15 Jul 2017, 14:26

RM Pensions up to 2012 are now the responsibility of the government and they have decreed that no unfunded public sector pension, which that element of the RM pension now is, can be transferred to a money purchase type pension.

The pension freedoms that came into effect in 2015 are aimed mainly at DC pensions, which yours is not.

There was recently a thread on another forum concerning the same issue: http://forums.moneysavingexpert.com/sho ... royal+mail

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