1980s NHS Superannuation

williegofar

Thanks again for the additional help.

Yesterday I didn't realise I had an NHS pension, so the fact that it might be 1/80th rather than 1/60th doesn't feel like a blow right now.
I'm in the fortunate position of having a decent final salary pension and 2 other private pensions, so I don't have any need to access this NHS pension any time soon and can wait until it kicks in when I'm 60.

Cheers

xylophone

I'm in the fortunate position of having a decent final salary pension and 2 other private pensions,

Have you obtained a new state pension statement?

https://www.gov.uk/check-state-pension

williegofar

xylophone wrote: »

Have you obtained a new state pension statement?

https://www.gov.uk/check-state-pension

Yes, I'm 4 years short of the full pension so looking at 142.17 a week. Last year I was made redundant. After having worked continually for 35 years I've just about decided that since I don't need to work anymore, I'm not going to. So I won't be getting the full state pension, but that's not a big problem.

mollycat

Willie, don't take my word for it regarding the acturial reduction for taking at 55....better check officially.

Good luck!

williegofar

mollycat wrote: »

Willie, don't take my word for it regarding the acturial reduction for taking at 55....better check officially.

Good luck!

no problem, thanks!

Teaandscones

williegofar wrote: »

Yes, I'm 4 years short of the full pension so looking at 142.17 a week. Last year I was made redundant. After having worked continually for 35 years I've just about decided that since I don't need to work anymore, I'm not going to. So I won't be getting the full state pension, but that's not a big problem.

It might still be worth paying an extra 3 years voluntary contributions for your state pension at approx £750 per year.

xylophone

So I won't be getting the full state pension, but that's not a big problem.

See https://www.royallondon.com/Global/documents/GoodWithYourMoney/TOPPING-UP-YOUR-STATE-PENSION-GUIDE.pdf

You have plenty of time to make voluntary Class 3....

crv1963

Hi


NHS pension was 1/80th accrual rate in the1980s and even if OP was special classes he would lose it after 5 years of leaving the scheme so pensionable age would be 60 regardless now.

mollycat

crv1963 wrote: »

Hi


NHS pension was 1/80th accrual rate in the1980s and even if OP was special classes he would lose it after 5 years of leaving the scheme so pensionable age would be 60 regardless now.

@crv1963.....thought that was the case but always wary of inadvertently misleading someone!

Cheers

williegofar

Teaandscones wrote: »

It might still be worth paying an extra 3 years voluntary contributions for your state pension at approx £750 per year.

xylophone wrote: »

See https://www.royallondon.com/Global/documents/GoodWithYourMoney/TOPPING-UP-YOUR-STATE-PENSION-GUIDE.pdf

You have plenty of time to make voluntary Class 3....

Cheers, Very useful, will be topping it up as it clearly makes sense. :beer: