Deferred Nhs Pension,leave it or transfer it.

nad1611

Just wondering if there'd be any advantage to transferring a deferred NHS Pension worth £4872 in 2009, with a lump sum of £14617, which is increased in line with inflation. Would I'll be able to increase this any more, elsewhere.
Also what calculation to use to see how inflation has changed this amount?

Proxy

Extremely extremely extremely unlikely.

nad1611

I'll take that as unlikely then. Do you know how to apply the yearly inflation figure, forgive my lack of maths.

mgdavid

Do NOT transfer it out, leave it where it is.
Inflation applies to future years so impossible to predict, but as it 'more or less' keeps the pension up with current cost-of-living value it's irrelevant. Also rarely a good idea to take the lump sum and reduced monthly payments but that is a decision for when you retire.

Andy_L

Transfering it to another final salary scheme is likely to be the right thing to do.
Transfering it to a a money pruchase scheme, as said above, is very unlikely to be the right thing to do (a figure quoted by one of our "tame independant financial advisors" is that about 1% of the time its the right decision

atush

And if you ever go back to work for the NHS, you can add more years and increase the size of your monthly pension.

So, leave it unless you go to work elsewhere in the PS (and even then it may make sense to leave it as it has things such as age of retirment that could be better).