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    • NickEquis
    • By NickEquis 7th Jul 17, 5:14 PM
    • 1Posts
    • 0Thanks
    NickEquis
    Opting Out of NHS Pension/ Moving to USA
    • #1
    • 7th Jul 17, 5:14 PM
    Opting Out of NHS Pension/ Moving to USA 7th Jul 17 at 5:14 PM
    Hi all,

    This subject may have been touched but as I am new I cannot find information on the questions I have. Please, if someone could lend some advice for direction.

    I am an American living in the United Kingdom and I am employed by the NHS for which I've been working officially since 2015 (I was a temp through Meridian from April to December). I am making a move back to the U.S. sometime in 2018. I was wondering if it was worth opting out of the pension scheme and perhaps obtaining a refund (if one was available) if I resettled in the U.S.

    Would this be an unwise decision to make? Could I still claim the pension in America come retirement age? Should I claim a refund (if necessary and possible)?

    What are the reasons why I should not opt out if moving abroad?

    What are the reason I should opt out for moving abroad?

    And finally, how would I go about doing this?

    Kind regards,

    Nick
Page 1
    • Silvertabby
    • By Silvertabby 7th Jul 17, 6:46 PM
    • 1,382 Posts
    • 1,627 Thanks
    Silvertabby
    • #2
    • 7th Jul 17, 6:46 PM
    • #2
    • 7th Jul 17, 6:46 PM
    You can only opt out and take a refund of your contributions if you been in the NHS pension fund for less than 2 years.

    If you do this, you will only get back your own contributions, less tax. Your employer's contributions (probably 3 times the amount you paid in) will be forfeit.

    If you accrue at least 2 years, however, you will be able to take a small pension from (currently) age 55. This can be paid in America.
    • atush
    • By atush 8th Jul 17, 9:32 AM
    • 16,155 Posts
    • 9,850 Thanks
    atush
    • #3
    • 8th Jul 17, 9:32 AM
    • #3
    • 8th Jul 17, 9:32 AM
    So stay in it if you will be there for 2 years.
    • p00hsticks
    • By p00hsticks 8th Jul 17, 1:59 PM
    • 5,528 Posts
    • 5,070 Thanks
    p00hsticks
    • #4
    • 8th Jul 17, 1:59 PM
    • #4
    • 8th Jul 17, 1:59 PM
    You can only opt out and take a refund of your contributions if you been in the NHS pension fund for less than 2 years.

    If you do this, you will only get back your own contributions, less tax. Your employer's contributions (probably 3 times the amount you paid in) will be forfeit.
    Originally posted by Silvertabby
    I can't comment on the NHS, but if you leave with less than two years service some other public sector schemes such as the civil service pension scheme also give the option of transferring your pension into another approved scheme - including your own personal pension.

    The transferred sum will include your employers 'contributions' so the sum involved is considerably higher than if you were to just get a refund. So it;'s worth double checking to see if this option is available in the NHS scheme.
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