Advice needed please

maggi1

Hi,
I took voluntary redundancy after working 21 years from a council post last June deferring my pension. I have just got another position with a different local authority, it's less hours and considerably less salary.

I know I can transfer the pension but what I am confused about is whether it's the best thing to do because of the final salary pension. This post is about £12000 a year less. I don't know what I would be best doing. Initially this post is temporary for 1 year. Can anyone help please.

Thanks for reading.

jem16

maggi1 wrote: »

I know I can transfer the pension but what I am confused about is whether it's the best thing to do because of the final salary pension. This post is about £12000 a year less. I don't know what I would be best doing. Initially this post is temporary for 1 year. Can anyone help please.

Thanks for reading.

if you transfer the old pension, your pension would be calculated on the new salary so you would lose an awful lot.

Just leave it where it is and join the new one. You can keep them separate.