Leaving NHS Pension

frugalsar

So if I defer it I dont lose anything and will get a tiny pension off them when I retire (even if I am then perminantly residing in Oz)? or if I get it refunded I will lose a lot to tax etc? I would be best to transfer it then wouldn't I but I'm unsure of the pension situation in Oz as my visa is temp for 2 years and I wont know if we're staying there.

atush

You would need to transfer it into another UK pension.

jem16

frugalsar wrote: »

I'm unsure of the pension situation in Oz as my visa is temp for 2 years and I wont know if we're staying there.

No real need to worry about just now though.

You are unable to defer your NHS pension as you have less than 2 years membership. The only way you could defer it is if you transferred a personal pension into it before you left but this may not be possible now as you have not done so within first 12 months of joining the NHS scheme.

You can transfer out to a personal pension which will at least mean you don't lose a great deal. It can stay there until some date in the future when you know what you will be doing. If you are still going to be abroad, then you can consider QROPS if it is applicable.

http://www.telegraph.co.uk/finance/personalfinance/offshorefinance/7188812/QROPS-and-pensions-advice-for-expats.html