Calling civil servants! Which pension scheme should I choose?

[ChaChaChaChanges]

I'm almost 50, and about to join the civil service having spent my whole career to date in the private sector. I'm taking a significant pay cut to do so

I have a reasonable defined contribution pot built up - around £725k. No DH or DP, but dependant children.

In my place, would you opt for the defined benefit or the defined contribution scheme?

Defined Benefit - other may say Alpha is not as good as the previous scheme. That is true, but Alpha is still a very good pension scheme.

Alpha gives you an index linked pension. For example if your pensionable pay is £30k, for each year Alpha banks 2.32% = £696 into your pension. This is not a pot but the annual pension you will be paid. This amount is then increased each year in line with prices.

If you worked for 10 years you would get an annual pension of 10 x £696 = £6,960 plus the annual increases a year. When you draw your pension this also gets increased annually based on prices.

I cannot emphasise how valuable the Alpha pension is.

Alpha for me for the death in service and ill health options

100% the defined benefit scheme.

Thank you - seems pretty clear!