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Retirement tax questions
Hmm... The whole point of a final salary / defined benefit pension is that you don't have an account with your name on, with a defined balance. (As you would with a 401k). Instead there is a communal pot of money that aims to provide the defined benefit at retirement (perhaps calculated as "Years service" * "1/80th" * "Final salary at retirement") to all the retirees that it looks after.
There is a communal fund value, but there is no 'personal' fund value.
February 4, 2025
5:43 AM