NHS to Teacher Pension Scheme

Miss_Moneysaver

Hi,


Does anyone know if I can transfer my NHS pension (19 years) into the TPS? If so, is there a time limit?


The PGCE I want to do is a 2 year course (I have already been offered a place). I was planning on leaving the NHS in July this year (job moving to another hospital) so it will be well over 2 years before I am earning again (September 2017).


Is there anything I can do?

kidmugsy

Does your PGCE course have long summer vacations? If so, could you take a temporary NHS job and thereby keep your membership there active?

jem16

Miss_Moneysaver wrote: »

Hi,


Does anyone know if I can transfer my NHS pension (19 years) into the TPS? If so, is there a time limit?

Yes you can transfer it. The only time limit is that it must be done within 2 years of joining the TPS.

However your other choice is to leave it where it is and it will become a Deferred Pension. It will then continue to grow in line with CPI until normal retirement age for the scheme which is probably age 60.

If you join the TPS after 2015, normal retirement age would be your state pension age so it might be a good idea to leave them separate.

hyubh

Miss_Moneysaver wrote: »

Does anyone know if I can transfer my NHS pension (19 years) into the TPS?

This would be a 'Club' transfer, and even if you did it after the TPS goes CARE (which it will - like the NHS scheme - in April), you will still get a final salary pension credit in the TPS. That would work out well if once a fully qualified teacher you pay comes to easily outpace inflation, e.g. through a couple of promotions, though as Jem says, against that will be a higher normal retirement age.