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NHS 1995 scheme; anyone know value of reverse commuting lump sum to annual pension
stoozie1
Posts: 656 Forumite
I have seen the commutation ratio the other way round, but no luck on whether a reverse commutation is allowed, and at what cost.
If anyone has done this I would be grateful for advice.
If anyone has done this I would be grateful for advice.
Save 12 k in 2018 challenge member #79
Target 2018: 24k Jan 2018- £560 April £2670
Target 2018: 24k Jan 2018- £560 April £2670
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http://www.nhsbsa.nhs.uk/Documents/Pensions/SD_Guide_(V16)_04.2016_-_Digital.pdf
Above does not specifically answer the question but according to below it seems that inverse commutation of the automatic (1995 scheme) lump sum is not possible?
https://www.bma.org.uk/advice/employment/pensions/tax-free-lump-sum
Can I give up my tax-free lump sum for additional annual index linked pension benefits?
No. It is not possible for you to ‘commute’ lump sum in favour of greater annual pension.0 -
thank you xylophoneSave 12 k in 2018 challenge member #79
Target 2018: 24k Jan 2018- £560 April £26700 -
Not possible to inverse commute 1995 scheme.
As an aside, 2008 and 2015 schemes have no lump sums as standard.0
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