"Tom Anderson" wrote in message
h.li...
On Mon, 30 Jan 2006, CLYDE DEMPSTER wrote:
That's the rub. This is not about final salary vs money purchase, it's
about how much the employer is putting in. A money purchase scheme with
the same level of contribution from them as your current final salary
scheme would be just as good as it, wouldn't it?.


No Tom i dont think so. A final salary scheme pays you a percentage of your
final years salary guarranteed, a money puchase scheme depends on how much
pension your savings can buy at your time of retirement. It could be higher
than your last years salary and it could be lower. Id rather not gamble.

An interesting thing i have recently found out is that whatever type of
scheme your in you have no binding rights to your money until you have
drawn the first payment from it. Bit scary that i reckon.

Regards
Clyde