Civil Service Pension - Left EMployer - What now?
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amanda40
Posts: 1,218 Forumite
My husband has recently left the Civil Service after his post was outsourced to a large company - He TUPE'd over to them, so kept all pay deal, terms conditions etc.
He has had 25 years service o has built up 25/80s pension wise. The new company are paying all contributions on a like for like basis as old pension. The dilema comes with what to do with the accrued pension already earned. It is a final salary scheme. He can either leave civil service one where it is or transfer it to the new companys scheme. We are really not sure what way to go with this and any help would be very much appriacted.
Many Thanks:T :T
He has had 25 years service o has built up 25/80s pension wise. The new company are paying all contributions on a like for like basis as old pension. The dilema comes with what to do with the accrued pension already earned. It is a final salary scheme. He can either leave civil service one where it is or transfer it to the new companys scheme. We are really not sure what way to go with this and any help would be very much appriacted.
Many Thanks:T :T
No Longer addicted to Boots! - Well not today anyway!! :blushing:
Officially Mortgage free 31/07/2017 , 12 years early :j
Officially Mortgage free 31/07/2017 , 12 years early :j
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Comments
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Without knowing all the facts we cant answer fully. Plus we cant give advice here anyway. However, my gut initial response is leave the exisiting pension where it is as its financially safer in the Govts hands than a private schemeI 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
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I've got a nasty suspicion that he has no choice - ISTR everything is transfered to the private sector company & he no longer has any connection to the civil service, inc the PCSPS
Andy0 -
Hi
I'm an ex-Civil Servant with 14 years of pension and I wouldn't transfer mine out for a gold clock! If all else fails ( and they sometimes do ) I know I have my PCSPS.0
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