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SIPP alongside NHS pension?
bagpussofsussex
Posts: 35 Forumite
Hi all,
I have been self employed for a number of years and have a very small vanguard pension (£100/month). I am due to start work for the NHS after a long break, and will obviously enrol in the NHS pension - I plan to buy some extra NHS pension once I've started work - I'm 49 and know the NHS scheme is great value. Is there any reason why I can't (or shouldn't??) keep my Vanguard plan running alongside this?
Thank you for any thoughts
I have been self employed for a number of years and have a very small vanguard pension (£100/month). I am due to start work for the NHS after a long break, and will obviously enrol in the NHS pension - I plan to buy some extra NHS pension once I've started work - I'm 49 and know the NHS scheme is great value. Is there any reason why I can't (or shouldn't??) keep my Vanguard plan running alongside this?
Thank you for any thoughts
mortgage balance 1/1/2021 £334000 end date June 2036
2021 MFW 0.5% £408.31/£1670
2021 MFW 0.5% £408.31/£1670
0
Comments
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I'd definitely keep your personal plan going alongside NHS. Albeit unlikely, just ensure you are not going over your earnings limit to claim tax relief with all pensions added up together.0
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No, it will give you flexibility but you may want to consider getting a quote from the NHS to see what transferring your existing SIPP fund into the NHS will buy.
You can always continue with a new SIPP alongside the NHS pension but it might be a good opportunity which is only available for 12 months from you starting work for the NHS.
https://www.nhsbsa.nhs.uk/member-hub/transferring-scheme3
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