Some Basic Questions

thebullsback

Im due to Retire and Return to full time employment within the NHS .I am male aged 60 with a salary of £20000 pa and on return a yearly pension of £5300 Lump sum of £37200.
1--Will my claming of my works Pension have any effect on other pensions I have ? I have 4 others

2--When its says you can take a lump sum from a pension pot with first 25% tax free does that mean you only get 25% tax free on ONE pot or is it tax free on every pot?

molerat

1. No
2. 25% of each.

crv1963

Have you checked that you can retire and return full time with no reduction in NHS pension? Most retire and return staff return part time to prevent pension payment being clawed back.

Depending which part of the pension scheme you are in total pension and earnings from NHS employment may not exceed your retiring salary (last job before retirement) without some money being clawed back from your pension payments.

It will not affect your other pensions.

It is 25% tax free of each pension pot.

On those figures are you commuting to get the maximum lump sum? If so why retire and return why not just carry on working in current post and gain a larger pension or have you reached the maximum pension you can?