Can I buy myself out of NHS pension?

SuperSonicDog

I have googled this to death and am more confused than ever 😂 so hope someone can explain my options in simple terms. I can’t tell if when they talk of taking an NHS pension early they mean at 55, or whenever you want (I’m 47)

so from my pension info I’m in the 1995 section and the 2015 section as I left and returned. I have left the NHS again and have no intention to go back so no further contributions will be paid in.

In the 1995 section I have a pension of £2984 and lump sum of £19896

and in the 2015 section I have a pension of £269 and lump sum of £1794

The lump sums would be great right now, and the pensions don’t seem to be worth getting excited over 😂 

so my question is, can I somehow buy myself out NOW at 47??

thanks 😀

Nebulous2

How much are you willing to pay to get out? 
Aside from your language however, no you can't. 

molerat

With more than 2 years service you are not entitled to a refund.

https://www.bma.org.uk/pay-and-contracts/pensions/leaving-the-nhs-pension-scheme/refunding-your-pension-contributions

xylophone

can I somehow buy myself out NOW at 47??

https://www.nhsbsa.nhs.uk/sites/default/files/2018-11/UK Transfer Out Guide and application pack-20181105-(V12).pdf

You cannot "buy yourself out".

And with regard to a transfer out see above

From 6 April 2015 transfers to schemes that provide ‘flexible’ benefits (including money purchase benefits) are not permitted.

As for taking a "deferred/preserved" pension early, see

https://www.nhsbsa.nhs.uk/sites/default/files/2019-10/EPPB factsheet-(10.2019) V5.pdf

dunstonh

so my question is, can I somehow buy myself out NOW at 47??

thankfully not.

Marcon

No - but if it's any consolation, the pensions will increase each year in deferment - that's the period from now to the time you come to draw your NHS scheme benefits - so might look a little more exciting by then.