Can I get at my public sector Final Salary pension pot now?

Meeper

lannie1 wrote: »

Shall I leave the 1st pension deferred or transfer to current final salary scheme.

Nobody here can answer this question for you. There are a large amount of issues with this type of transaction and you should take individual advice based on a full review of your circumstances and the benefits that are provided in each case.

atush

HankRandy wrote: »

I'm asking how best to reinvest when I come out of the pension because I am not going to retire as a firefighter. I am a highly qualified professional firefighter who has cost thousands to train so the tax payer will also be the loser.

The Best thing for you to do is join a new pension scheme by your new employer. It wan't be as good as your old one, so you will retire on less. DO NOT move your old pension, leave it there til you retire and it will grow with inflation. There is nothering you can do in the private sector to beat it.

Sorry you felt we were condecending to you, we aren't. We are just (to our deriment as taxpayers) trying to stop you making a very bad decision.:)

atush

HankRandy wrote: »

My situation has very little to do with what Hutton has said today. Besides, as I understand it, they can't go after what's been accrued to date without changing some very difficult legislation.

I understand that it's just about the best pension out there but I've contributed over £21K of my own salary over the 7 years that I've worked for the fire service and I'm leaving the job. So regardless of whether or not people think I'm throwing my toys out of the pram by leaving- I'm still looking for some clarity as whether - if you accept that I'm leaving the pension one way or another- I'll be better off putting its "nominal value" into another private pension fund now or further down the line, given that its "nominal value" is quite likely to decrease over the next four years...

No, you wont be. you will be better off to let it ride and join a new scheme wherever you end up.

Meeper

Atush, you are quoting comments from over 6 months ago. This thread has just been resurrected by the comment immediately above mine.

atush

I realise that, but others will be reading. And I was saying what they said with a little less vitriol.

If this is you asking me to kindly shut up, I will kindly ask to to bu**er off lol.

CLAPTON

lannie1 wrote: »

Would everyone in this thread not like a 6% contributory public sector pension scheme? I think everyone who works should be offered the scheme.
Question: I worked for the public sector for 6 years, had a career break then rejoined the pension scheme. Shall I leave the 1st pension deferred or transfer to current final salary scheme. I am planning to go part time, but am not due to retire for 30years so will probably go full time again in the future or potentially get another job??

start a new thread if you want sensible replies