SIPP alongside NHS pension?

bagpussofsussex

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

Sun-Is-Fun

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.

Dazed_and_C0nfused

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-scheme