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  1. #1

    DB Pension - Lump Sum As Well ?

    I'm 39 and have a DB Pension which i don't pay into anymore. The statements say it will pay approx 6k a year when I'm 65.
    Should i expect a lump sum as well as this 6k per year or would the option at the time be a lump sum and a reduced yearly pension ?
    Thanks for any info

  2. #2
    From my experience if the scheme had an option for a lump sum and reduced pension the statement would say so - I don't think all schemes do so

  3. #3
    The size of the lump sum and your options as to how much you take are dependent on the particular scheme rules. So have a look at your scheme documentation and/or ask your pension administrator.

  4. #4
    Most older schemes usually had a lump sum + annual pension. The newer ones seem to be the either / or trade. The only way to find out is to read the scheme rules or talk to the administrators.

  5. #5
    Entirely down to scheme rules. Do you not still have a scheme booklet?

  6. #6
    If not, I would have expected something mentioned on the deferred benefit statement, otherwise drop a line to the scheme administrator.

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