Personal illustration

thegreatestfreddy · Post by **thegreatestfreddy** » 22 Oct 2018, 20:48

Mmm...
Not too sure how clear that is on the CSDB as that scheme has obviously now ceased ...
With other previous employers I have had, any frozen (deferred pension) is based on your salary at the time of cessation (plus any annual increments to counteract inflation)...
I would have expected that to be the case with the closure of the CDBS... ?

As you say Robert, perhaps needs further clarification by emailing someone in Pensions Dept.

thegreatestfreddy · Post by **thegreatestfreddy** » 22 Oct 2018, 20:56

##CSDB

Post by **celtic1967** » 22 Oct 2018, 21:20

I emailed the pension help line and they confirmed that if I did reduce my hours prior to taking my pension then the final salary part of my pension "may" be reduced. I have asked them to clarify that as I thought that the best year of your final three years would be used to determine this.
Will let you know what they say.

Post by **stephen500** » 23 Oct 2018, 05:18

celtic1967 wrote:I emailed the pension help line and they confirmed that if I did reduce my hours prior to taking my pension then the final salary part of my pension "may" be reduced. I have asked them to clarify that as I thought that the best year of your final three years would be used to determine this.
Will let you know what they say.

It will be the best of last three and can be the best of last 10

Post by **RobertT** » 23 Oct 2018, 06:27

thegreatestfreddy wrote:Mmm...
Not too sure how clear that is on the CSDB as that scheme has obviously now ceased ...
With other previous employers I have had, any frozen (deferred pension) is based on your salary at the time of cessation (plus any annual increments to counteract inflation)...
I would have expected that to be the case with the closure of the CDBS... ?

As you say Robert, perhaps needs further clarification by emailing someone in Pensions Dept.

That is quite often the case, but it will also depend on the rules of the scheme.

Post by **RobertT** » 23 Oct 2018, 06:28

stephen500 wrote:It will be the best of last three and can be the best of last 10

It can actually be the best of the last 3, or an average of any 3 consecutive tax years in the last 10!

Your plan guide will give a bit more info.