NHS pension, can i get a refund?
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So how do i leave the scheme and how much will i get after all the contributions that i have made
They will contact you to let you know your options. These are either to 1) transfer the equivalent value. The best option as you get to retain the employer benefit and you dont pay tax and NI on it. or 2) get your contributions back (the worst option as you dont get the employer benefit, you are taxed on the amount and you have to pay NI on the amount).I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
firesidemaid wrote: »4 years is a 1/10th of an nhs pension - nothing to be sneezed at.
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I think it's 1/15 of an nhs pension, but my maths might be shonky
Each year gives 1/60 (the new one gives 1/80) so 4 years would be 1/15. 0 -
pensionRefund wrote: »Hi:
I am an overseas worker working in NHS but now leaving NHS to return to my country. I have been contributing to the NHS pensions scheme for more than 3-years. Am I able to get a refund for my contributions.
Thanks
Sufi
You can't get the refunds
Options:
1. Read on HMRC website about QROPS....and transfer to your country
or
2. Leave it in the scheme and get paid wherever you are at the retirement age0
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