24 Mar 2019, 20:48
25 Mar 2019, 13:50
25 Mar 2019, 15:44
25 Mar 2019, 17:24
Kevster77 wrote:Thank you RobertT that all makes sense.
I am abit confused regarding the point of the dbcbs. on the assumption this new cdc scheme will start pretty soon (next year maybe?) we’ve got a pot of a couple of years contributions which will then end and freeze til we can access it at 65? Seems silly! Can we transfer the dbcbs to a private pension as soon as the rmpp ends/cdc starts or is it tied up til 65?
I am a section F member who transferred over to the dbcbs. Reading these forums I’m now thinking I should have stayed with the rmdcp, but hey ho.
I received my avc application forms in the post today. I’m now wondering if I’m doing the right thing? Is that right that avc funds have to be taken at retirement along with the pension? As a section F member I only currently have two lump sum pots (rmdcp/dbcbs) so is it different for me? Can I transfer any avc funds out privately at anytime or is it tied up? I’ve read that any avc would end once the new cdc scheme comes in anyway so possibly come next year I’m sat with 3 very small pension pots (rmdcp/flexiplan/bonusplan).
Someone has suggested I turn my frozen rmdcp pot into a private pension with Zurich and start paying into it Instead of the avc. It was £15,200 when it was frozen last year but seems to have gone up by £500 in the last 12 months so am I better off leaving it where it is?
Sorry for waffling but can I ask you RobertT what you would personally do in my situation as you appear very clued up. I’m 42 with no previous pensions, just my rmdcp and dbcbs. My knees are buggered so I’m not sure I’m gonna last another 25 years!! I could potentially have 6 different rm pensions (rmdcp/bonusplan/flexiplan/dbcbs/cdc/dblss)... Is that a good idea or am I better off condensing as much as I can?
Any advise would be greatly appreciated
25 Mar 2019, 18:00