DB schemes

Question 1

Reasons to retain a DB scheme

Answer 1

• if in good health / good family history/ long life expected
• guaranteed to pay out for their lifetimes
• younger spouse likely to need / benefit from spousal pension element
• if they have a low CFL?
• if they have limited other assets
• when DB will provide most of the income required
• is the CYC too high
• ## if there is another MP pension which could be left untouched to pass to children

Question 2

Reasons to transfer DB to MP

Answer 2

If CYC works
If they have another plan which can provide sufficient income
- income can be varied to suit needs with a MP plan