Has anyone with a deferred pension thought about removing the transfer value into an outside pension company and taking an 'immediately vesting' pension (i.e. it pays a pension immediately) with a guaranteed RPI increase?
This overcomes the uncertainty about IBM's future pensions-in-payment policy and the uncertainty of re-investing 'safe' money into an external pension fund which might fall in value if the stockmarket falls.
I've done some initial research and it seems that you will get a smaller pension by doing this. Presumably, this is because as soon as you 'guarantee' RPI increases, as opposed to IBM's discretionary policy, the pension fund has to be that much larger.
Any thoughts or experiences?
I'm increasingly sceptical about IBM ever changing its pensions-in-payment policy and about the effectiveness of the Ombudsman route.