NILGOSC Pension and HSC Pension (NI Applicable Only)

Indo77

Hi,

I find myself in the position where I have 5 years service with NILOGOSC and have now moved onto the HSC Pension scheme (different job). My question is should I transfer my NILGOSC pension to the HSC Pension? I have no idea what I should do and basically wonder if I do a transfer will I lose out in some way.

Edit: I have did a bit more research about this on the net. It appears there is a public sector transfer club

http://www.civilservice.gov.uk/my-civil-service/pensions/Public-Sector-Transfer-Club.aspx

Wee_Bargain_Hunter

May be worth checking out this website & ringing the helpline: http://www.pensionsadvisoryservice.org.uk/.
You may find some useful information here too: http://www.bbc.co.uk/news/business-11446833
If it was me then I'd probably talk to both pension schemes and get scheme details & also a letter outlining transfer values, pension projections etc from your old scheme. Also whether or not you can use the "club" it's probably worth knowing the differences between the 2 schemes in case your old scheme has some benefits/guarantees or methods of calculation that are better for your circumstances and that it may be worth hanging onto.
I know you're in NI but I think the pensions board people might be of more help. Good luck, things like this always give me a headache!

Indo77

Hi,

Thanks for this information. It's not something I think I should rush into.