Pension Planning SIPP or Defined Benefit

SuffolkGent

Hello


I am looking to plan for my returning and I will be 34 within a week from today.



My health has not been especially fortunate, but this has allowed for access to be agreed to an NHS Pension early on ill health grounds (Tier 1) This is not in payment yet but should be in a few months, it is broken down very approximately as follows


2008: £3,147 annually

2015 £1,932 annually



£396 Mandatory lump sum.



The annuity has been prioritised over extra lump sum. Nothing has been allocated due to my single status. i expect as I pick up a life partner or kids the survivor elements will come into play.



I am aware how good the NHS pension is, this decision was made on a heath basis, I am seeking where to go from here. The above once in payment can be relied on, I am fortunate to have achieved this, but this was decided on my long term health condition.



This is currently my only provision outside of the state pension. No Auto enrollment here at present.



I am seeking some employed wok which may allow for rejoining NHS 2015 CARE Pension or possibly other public schemes could happen. If that does not happen I will likely be self employed and seeking a SIP to take advantage of the flexibility and control. I would like to consider a SIPP either way, but it is likely I will qualify for only a low level of tax relief unless employed.



I do possess a lump sum which could be partially put into a SIPP, but presently this is used in an offsett mortgage so it is well occupied. I need to consider if putting some toward a SIPP soon would be best due to my increasing age.



My work future is not especially clear so some benefits may come in to things later, but I am trying to do whats best all round.



An advice or suggestions would be appreciated.



SuffolkGent