Final Salary Pension

[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

R

[kjn2]

Hi,
Bit of a strange answer to your question BUT as many companies are closing down their Final Salary Pensions due to the high costs I personally would open my own additional pension plan as a precaution for the future and start paying in to that especially as we do not know what the future holds regarding state pension. 35 years is a long time to pay in �1800 per annum should have a nice little packet at retirement age (what ever that will be then)?
KJN