nhs pension refund

Crumpo63

Hoping somebody with NHS pensions expertise can help?

I joined the 1995 NHS Pension scheme on 08/11/1999 and subsequently opted out of the pension on 03/08/2009 (No refund claimed)- I then re-joined in May 2019 in the 2015 scheme, I have recently tried to claim a refund for the 15 months of contributions I have paid and have been told I cannot claim a refund as they say 'Your benefits are deferred until you reach normal retirement age'

They have confirmed I have 2 separate NHS pensions 1995 (matures at age 60) & 2015 (matures at age 67). I am struggling to understand why I cannot claim a refund for the period May 2019-August 2020 as this is less than 2 years. I have not previously had any refund and my break from contributions is 10 years!

please can somebody make sense for me?

Mike

dunstonh

I am struggling to understand why I cannot claim a refund for the period May 2019-August 2020 as this is less than 2 years.

It is because you have more than 2 years membership.   It is both combined, not individually, in respect of the 2 year rule.

On the plus side, refunding contributions is usually the worst thing you can do.   Or second worst after opting out of the scheme to begin with.

Marcon

If you look at https://www.nhsbsa.nhs.uk/sites/default/files/2017-03/Members Refunds Factsheet V5 02.2017.pdf you'll see that you don't meet all four conditions, given your membership of the 1995 Scheme.

JoeCrystal

Crumpo63 said:

please can somebody make sense for me?

Well, willingly giving up extremely generous NHS pension doesn't make any sense either! You already had a membership of the NHS pension scheme, so no way to get a refund anyway.

Crumpo63

Thanks for the replies, I agree silly of me to leave in the first place. Will now instruct payroll to re-instate me back into the pension

ffacoffipawb

Crumpo63 said:

Thanks for the replies, I agree silly of me to leave in the first place. Will now instruct payroll to re-instate me back into the pension

You are in it already, I don't think you need to do anything?

crv1963

Crumpo63 said:

Thanks for the replies, I agree silly of me to leave in the first place. Will now instruct payroll to re-instate me back into the pension

By my reckoning you have almost 20 years in the 1995 scheme- so a 50% pension at 20/80ths plus your additional 2015 scheme membership, I don't know your banding or age now or when you plan to retire but if you opted out in August 2020 as you say it is well worth re-joining, it is basically deferred salary you are giving up and your retired self will be thankful that you opted back in.
The ten years you were out have cost you 10/80 ths or 25% pension if an ordinary member or 20/80 ths or 50% pension if you were a member of the "special classes".
But by re-joining you can at least repair some of the damage, I work with so many who don't understand how valuable the scheme in whatever form they are in actually is. If you can I'd also look to see if you could buy either additional pension or if that is too expensive put some regular monies into another pension.