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Can I transfer money from a SIPP and buy Added Pension in a Civil Service Scheme?
IAMIAM
Posts: 1,432 Forumite
That I have been in 6 years...
0
Comments
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https://www.civilservicepensionscheme.org.uk/about-us/scheme-rules/
What do the scheme rules say?
My non-civil service pension scheme had a relatively small window of opportunity to transfer in (months not years). I bought 'added years' as a monthly extra contribution.0 -
You can only transfer in during first 12 months of employment. You can buy Added Pension if you wish.0
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Can I buy added pension with SIPP funds?0
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No, you cannot.IAMIAM said:Can I buy added pension with SIPP funds?1 -
You might be able to if you are over 55.
But you would have to draw it from the SIPP, you cannot transfer it.
This could mean taking taxable income which could in turn limits pension contribution amounts.0 -
Great, so in effect drawdown the SIPP at 55 and use funds to top up/buy additional pension in civil service pension to age 65 etc.0
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