Help! Unsure what to do about my pension

jimbob7575

Hi all, I am new to the site and I’m a little stuck about what to do with my pension. I have 17 years nhs pension and 2 years private pension. I no longer work for the NHS and currently I’m not contributing to any pension plan. I am 44 so have a lot of working years ahead of me. I was thinking about transferring it all to PensionBee. Is this a good idea? Can I do that? I’m unsure which direction to go....please help!! 

Brynsam

You can't transfer your 17 years of NHS pension to PensionBee, or any other defined contribution arrangement. Would be a very bad idea indeed if you did, so think of it as a mistake compulsorily avoided!

dunstonh

I was thinking about transferring it all to PensionBee.

You cant

Is this a good idea? 

Even if you could it wouldn't be.  You cannot transfer the NHS pension

Can I do that? 

no

Gary1984

Are you employed? If so sign up for your employer pension scheme and contribute what you can. 

AnotherJoe

Its sad how so many people in the NHS dont seem to realise what a good deal they have on their pension.

tacpot12

Gary1984 said:

Are you employed? If so sign up for your employer pension scheme and contribute what you can. 

If you are self-employed, start a Personal Pension. The most important thing you can do is start saving now. Pay into your pension first, then deal with all the other expenses of running your business and your life.

You should also check your State Pension Entitlement asap, and look into what you can do to increase your entitlement to the State Pension. It is another pension that is a very good deal.