Am actually drawing my pension now so not up to date with the whole of this issue but one question springs to mind - when was the last time they offered you something that wasn't looking at reducing their costs? Therefore, on average, they must surely be offering you less!!
I did, just to see the look on the ex-wife's face, in court, when she found out there was no gratuity in-bound for another 15 years. oh how I laughed the next day as I went and changed my options back again, with her lawyer having dropped the pursuance..hahahaha
So have I and I'm drawing it now. If you have the choice stay with the old one. Don't believe the hype. The new one may have its benefits but you may not be round long enough to enjoy them. As soon as your time is up, take the money and run.
Did quick calc before sticking with old one as over the first 15yrs i would have been short by approx Â£65,000 on the new one. That was enough for me as i always thought the old benefits + the life insurance was enough to leave behind.