Shifting defined contribution to career average pension?

[Onandupw]

I will get some professional advice on this, but just wondering if anyone had thoughts/knowledge on transferring money from a defined contribution pension to a career average pension?

I’ve got about £350 k in a dc pension and am about to become a member of the local government pension scheme - which is defined benefit.

I can transfer funds which would mean £7,500 (around) as a defined benefit per year.

I am not sure yet what that would cost me from the dc pension

I have no clue how to work out if this is worth doing!!

thanks for any input

Then the simplest form of mgmt for it, would be to get it into a Vanguard Sipp (low cost) buy US Equities Tracker (about 3500 companies) and forget about it for 20 to 30 years. Charges will be less than anywhere else and it will track the US Market. Predictions are that it will return an average of 6% per annum. Used to be 8% but economists are suggesting the next decade will be a bit less.

@Bard6817 why would I move it out of the FCAs scheme?

my thinking is that they’re never going to let that tank…

Check the fees. Platform charge, fund charges and any advice charges. Vanguard are very difficult to beat.

Vanguard are also regulated, absolutely huge funds, often recommended by IFA’s. It’s also FCA regulated.

FCA regulations are not perfect and some funds do fail depending on what their investments are in, notably property and fraud. Vanguard are about as far away from that as you would wish.

@Bard6817 tjanks!

it is wasn’t clear I mean the fund is the one for fca employees, not just fca regulated.

but I will check fees etc

thabks!