Final Salary

[ramasus]

I am currently in a Finaly Salary Pension scheme, where it is non-contributary, and pays 1/70th.

They are giving the option to change it to contributing 6% of salary,and having it a 1/60th scheme.

I still have 35 years before I can draw my full pension, and earn approx. 30k

If I was to stay in the same job, with the final salary pension scheme, would it be of benefit for me to contribute to the 1/60th scheme? or not? How long would I need to live to see any benefit?

Many thanks

[PrinceRainie]

contact your scheme administrator and ask them for projections on both schemes....it will be obvious which to go for......
good luck...

come back if any more questions