Transferring NHS pension to a personal pension ?

Joeygirl72

Hi
I am looking at trying to transfer to a personal pension from NHS . 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 ?

hyubh

Joeygirl72 wrote: »

I am looking at trying to transfer to a personal pension from NHS .

Not allowed, transferring out of an unfunded public sector scheme like the NHS one to a DC arrangement was banned when 'freedom and choice' was introduced.

squirrelpie

It does say on the NHS pension site that you can transfer to some pp plans

Do you have a URL for this statement on the NHS website? It might help to clear up any confusion.

Dox

Joeygirl72 wrote: »

Hi
I am looking at trying to transfer to a personal pension from NHS . 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't do it. Look at the table on page 13 of the NHS booklet: https://www.nhsbsa.nhs.uk/sites/default/files/2018-11/Leaving%20Early%20and%20Transferring%20Out%20Guide%20%28V16%29%20-%2011.2018.pdf

The relevant sentence is: 'From 6 April 2015 transfers to schemes that provide ‘flexible’ benefitts (including money purchase benefits) are not permitted.'