Transfer to 2015 NHS Pension Scheme

justme111

I have not missed it , I lumped both changes together. Fair enough, they did not lose at lump free sum because they got higher accrual rate. But their contribution percentage went up. To my not so knowledgeable mind it looks like NHS pension lost roughly half of its appeal . Another half is still there. So if I was op I would contribute to NHS pension rather than private now but I would not have moved my existing pot into it keeping in mind I want to retire before NPA. Please correct me if I am wrong.

hyubh

justme111 wrote: »

But their contribution percentage went up. To my not so knowledgeable mind it looks like NHS pension lost roughly half of its appeal.

Any member who thinks a higher contribution rate (assuming they pay one - lower paid people were and are protected) meant their pension lost half its value would not properly understand the situation at all.

So if I was op I would contribute to NHS pension rather than private now but I would not have moved my existing pot into it keeping in mind I want to retire before NPA.

Agreed, wanting to take pension benefits at 60 makes transferring questionable - a separate pension able to be drawn from flexibly would help minimise the need to take the NHS one early.

justme111

Higher contribution rate and losing half of appeal were not cited as the only cause and effect , I meant it lost half of it's appeal due to ALL changes together , tieing NPAto SPA being the main one.