Latest on Immediate Pensions under new scheme published. At first glance new IPP pension is significantly worse £6000 for a Major or equivalent at 40/18 yr point with about £36K lump sum compared to £12000 and £36K lump sum. Rises to £9000 index linked at 55, then £12000 index linked at 65 with another lump sum of £36K.
Current pension £12000 at 38/16 with £36K untill 55 then £12K index linked tfn. Overall a rough calc means you'll be about £90K out of pocket if you switch to the new scheme and leave at 40/18.
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