Move Final Salary Scheme to NHS pension?

newbie_new

Hi

I have a Final Salary Scheme, but with only 2 years contributions. Everyone says to not move money out of a Final Salary Scheme but what if it's a tiny amount? Is it worth moving to my new employer (NHS)?

Thanks!

jem16

newbie_new wrote: »

Hi

I have a Final Salary Scheme, but with only 2 years contributions. Everyone says to not move money out of a Final Salary Scheme but what if it's a tiny amount?

It's still likely to be better than what you would get by transferring it to anything other than another Defined Benefit pension.

Is it worth moving to my new employer (NHS)?

Thanks!

It might be or it might not be. You would need to compare the terms of both, such as the retirement age and benefits provide by both.

Was you other pension also public sector or not?

How long have you been in the NHS scheme? Transfers usually need to be done within the first 12 months.