Transfering out of NHS pension

Silvertabby

Joeygirl72 wrote: »

I am looking at trying to transfer to a personal pension too. I have worked for NHS for 6 years & will be leaving soon - I would like to access some of the cash at 55. Are there any companies that take these transfers. It does say on the NHS pension site that you can transfer to some pp plans ( maybe stakeholder)
Anyone had any experience with this ?

I think you must be looking at an out of date leaflet (or you are looking at the options for someone with less than 2 years service, and so isn't entitled to an actual pension). You can now only transfer your NHS pension benefits to another DB (final salary/career average) pension scheme. It cannot be transferred to a PP or stakeholder.

Johnnyboy11

Joeygirl72 wrote: »

I am looking at trying to transfer to a personal pension too. I have worked for NHS for 6 years & will be leaving soon - I would like to access some of the cash at 55. Are there any companies that take these transfers. It does say on the NHS pension site that you can transfer to some pp plans ( maybe stakeholder)
Anyone had any experience with this ?

You can start your NHS pension at age 55, see here: https://www.nhsbsa.nhs.uk/sites/default/files/2018-02/Early%20Retirement%20factsheet-20180201-%28V4%29.pdf

Dazed_and_confused

Interesting but I suspect the op was after a (tax free) lump sum not a vastly reduced monthly amount.

But it is an option, albeit not a very palatable one for most people I suspect.