Another transfer value question...

[lordturpin]

Another transfer value question...

I have an old Direct Benefits pension which i have paid little attention too as i thought it was of very little value, i recently requested a Transfer Valuation which is above.

The numbers appear larger than i thought. My main question is... the Transfer value of £214,032.59 , is this the amount that i could in theory withdraw to my existing private pension now ?......

The £3,200 is what its what i would be paid from 55 if i kept it I assume ?

Any comments on the other numbers/calculations appreciated.

Thanks

[PurpleMoonlight]

Yes, the transfer value is what could be paid to your personal pension.

The defined benefit is as at the date you left the previous scheme. It would be increased between then and when accessed. You should ask the administrator for a projection of the benefits at NRD.

[lordturpin]

Thanks for that, i will ask for an updated NRD to get the full picture.

[LeoSayer]

I doubt your NRD is 55 - more likely 60 or 65.

[lordturpin]

Thanks, on checking now see NRD is at 60..