DBCBS

[SeanMc]

Hi, I retired in November 2020 and am due my NRA 60 this month but still haven’t got my options forms. Is DBCBS included in the NRA 60 options? Or is it linked with NRA 65? Thanks in advance.

[RobertT]

Most of it is paid out with your NRA65, but some of it is paid out with your NRA60 too. I would say as a guestimate, probably about 15% of it, although that will depend on the individual to some degree.

As I understand things, you get an initial quote which just includes your pension options. It's only after you tell them which option you want to go with that they include the DBCBS in a second quote.

If you're going to be 60 this month, I would chase them up if I was you!

[SeanMc]

Thanks Robert, I have contacted them and they said because I left end of November it takes 6- 8 weeks before they can finalise my salary/pension. Thanks for your help.

[antcpfc]

I am due to receive my pension on the 29/01
I have decided to take the DBCBS as a lump sum. I am still working any idea how long until that is paid?

[deltaforce]

I received mine just after my retirement day but before my pension payment date... check your bank account because often the advice letter often arrives way after the lump sum has been paid.

[stephen500]

I am due to receive my pension on the 29/01
I have decided to take the DBCBS as a lump sum. I am still working any idea how long until that is paid?

If you have any "excess DBCBS" as a section B member then that is normally paid 12 weeks after your first lump sum payment.
If you have no excess, over and above your 25% tax free lump sum, then I guess you will get it on pension commencement lump sum day.

[stephen500]

Hi, I retired in November 2020 and am due my NRA 60 this month but still haven’t got my options forms. Is DBCBS included in the NRA 60 options? Or is it linked with NRA 65? Thanks in advance.

I have done whole threads on this and I was going to write if you care to look at some of the threads I have started that are still active, they could answer a lot of your questions and saves me having to write out and produce slides. But I just spotted elsewhere that you have! Good luck. If I can help, let me know and I am sure Robert T and others will as well. And just to repeat, DBCBS is mainly for your NRA 65. (a little may be used for NRA60, but not much)