What to do with NHS pension when moved abroad?

am.jovial

I am british citizen working with NHS . From July 19, am on one year sabbatical and in another country in Asia due to health reasons of my parents. Presently, I have picked up a private employment there to meet my expenses.

Due to my personal and family circumstances, I am not sure If I can come back to UK and continue my job. I may decide to resign from NHS in coming months and continue abroad.
I may or may not be able to return to UK in future. Or may be i will move back to UK for my son's education. I hope to visit UK for short visits though.

Please could someone advise me on NHS pensions.

1. What is the best thing I can do with my pensions considering my personal situation and uncertainties?
2. Can I continue to contribute to my pension from abroad? What are the pros and cons in doing this?
3. Are there any general rate of return or any such quantitative parameters like ROI, CAGR that we can expect from NHS pension? That way I can compare if it is better to contribute to NHS pension or invest in alternative options like real estate, Mutual funds etc.
4. Is there an option for me to select how my NHS pension is invested and that way I can get higher returns ?

Appreciate your help in advance. Thank you for your valuable time to help me here.

Marcon

1. Not nearly enough information to give any sensible advice.
2. No, not unless you are continuing to be employed and paid by the NHS.
3. Full details on the NHS pension website: https://www.nhsbsa.nhs.uk/member-hub
4. No.

Silvertabby

As Marcon says. Your NHS pension is payable abroad - as long as the country you reside in accepts bank transfer payments. You'll find a current list on the NHS website, but do bear in mind that this is subject to change.

Interesting to see that China is now on the list (wasn't during my time as a LGPS administrator) - but note that North Korea still isn't.

[Deleted User]

Chances are your best approach is to do nothing and leave NHS pension where it is.

JoeCrystal

am.jovial wrote: »

I am british citizen working with NHS . From July 19, am on one year sabbatical and in another country in Asia due to health reasons of my parents. Presently, I have picked up a private employment there to meet my expenses.

Due to my personal and family circumstances, I am not sure If I can come back to UK and continue my job. I may decide to resign from NHS in coming months and continue abroad.
I may or may not be able to return to UK in future. Or may be i will move back to UK for my son's education. I hope to visit UK for short visits though.

Please could someone advise me on NHS pensions.

1. What is the best thing I can do with my pensions considering my personal situation and uncertainties?
2. Can I continue to contribute to my pension from abroad? What are the pros and cons in doing this?
3. Are there any general rate of return or any such quantitative parameters like ROI, CAGR that we can expect from NHS pension? That way I can compare if it is better to contribute to NHS pension or invest in alternative options like real estate, Mutual funds etc.
4. Is there an option for me to select how my NHS pension is invested and that way I can get higher returns ?

Appreciate your help in advance. Thank you for your valuable time to help me here.

As Marcon already highlighted the link, there is not much to say apart from the fact your questions are mostly irrelevant, which show a poor understanding of the NHS pension scheme. The whole premise of the NHS scheme is that you will get an index-linked income for life once you reach the SPA or reduced if less than that

am.jovial

Silvertabby wrote: »

As Marcon says. Your NHS pension is payable abroad - as long as the country you reside in accepts bank transfer payments. You'll find a current list on the NHS website, but do bear in mind that this is subject to change.
- but note that North Korea still isn't.

I am not sure if I have understood your reply. I did not mean if I can get pension when I am working abroad (not for NHS) but if I can contribute voluntarily (being outside of NHS and outside UK).

JoeCrystal wrote: »

As Marcon already highlighted the link, there is not much to say apart from the fact your questions are mostly irrelevant, which show a poor understanding of the NHS pension scheme. The whole premise of the NHS scheme is that you will get an index-linked income for life once you reach the SPA or reduced if less than that

Yes, I accept I have poor understanding. I will read more about pension on the website. It is not easy to understand, at least for me. I am at the level of registrar.

While I read up about pension, I am happy to provide additional info here. I am sure there may be many others in similar boat.

nigelbb

The NHS pension is effectively deferred salary that is paid after retirement. It accumulates at 1/54 per year so if you earn £54K for each year of service you get £1K of pension every year for the rest of your life & a lower amount for a surviving spouse. The pension is index linked so rises each year to maintain value. As average life expectancy at retirement is around 20 years or more the pension element of salary amounts to an additional 40-50%.

You only earn NHS pension when working for the NHS & cannot make any additional contributions when you are not working in the NHS.

Linton

nigelbb wrote: »

The NHS pension is effectively deferred salary that is paid after retirement. It accumulates at 1/54 per year so if you earn £54K for each year of service you get £1K of pension every year for the rest of your life & a lower amount for a surviving spouse. The pension is index linked so rises each year to maintain value. As average life expectancy at retirement is around 20 years or more the pension element of salary amounts to an additional 40-50%.

You only earn NHS pension when working for the NHS & cannot make any additional contributions when you are not working in the NHS.

As said plus:
1) Your pension is not invested, there is no pot with your name on it, the money is simply guaranteed by the government.
2) There is nothing you can or need to do until you reach retirement.