Transfer query from LGPS to Civil Service Nuvous

woolly_wombat

draker wrote: »

I'm wondering whether to keep my LGPS where it is as this gives me an option to retire at 60 with only a proportion of the pension reduced
before retiring at 65.

That would be a good reason to stick with LGPS.

Or am I likely to get a better longer term accrual rate by moving the value into Nuvos?

Only if your current salary increases by more than CPI. Does that sound likely? (I would suggest not, with current public sector pay restraint, unless you are promoted). As hyubh has explained, it would be a Club transfer and therefore linked to your current final salary.

Also, there's something to be said for not having all your eggs in one basket.

ww

draker

woolly_wombat wrote: »

That would be a good reason to stick with LGPS.



Only if your current salary increases by more than CPI. Does that sound likely? (I would suggest not, with current public sector pay restraint, unless you are promoted). As hyubh has explained, it would be a Club transfer and therefore linked to your current final salary.

Also, there's something to be said for not having all your eggs in one basket.

ww

Thanks for the reply.

There could be the opportunity to move up into the next band in the next 5 years. I'm currently at the top of the HEO band.

Thanks