NHS Scotland Pension - Transfering Out (leaving post)

throughtheblue

I've been paying into the NHS pension scheme for just over 3 years. I'm looking at leaving the NHS and begun researching transferring after leaving my post. 

If I leave NHS employment, is it possible to transfer the lump sum of the pension into a SIPP? I'm looking at the possibility of using funds to go towards a business property, which I know is an option with certain pensions. 

Thanks 

jem16

You would only be able to transfer your NHS pension to another Defined Benefit scheme. Transferring to a SIPP hasn’t been allowed since 2015. 

https://www.nhsbsa.nhs.uk/sites/default/files/2021-08/UK%20Transfer%20Out%20Guide%20and%20application%20pack-20210311-%28V13%29.pdf

Dazed_and_C0nfused

Do you mean your main (defined benefit) NHS pension or have you been paying additional contributions into a defined contribution pot?

throughtheblue

Yes my main NHS pension, no additional contributions. 
I thought I may be able to transfer into a SIPP if leaving employment but it seems not. 

Dazed_and_C0nfused

No, you can't in that situation.

You might not think it now but you'll be pleased when you reach normal pension age for the scheme you were in 

throughtheblue

Dazed_and_C0nfused said:

No, you can't in that situation.

You might not think it now but you'll be pleased when you reach normal pension age for the scheme you were in 

I agree to a certain extent. The only reason was the possibility of using pension to invest in business property.

MallyGirl

that would be pretty niche anyway

nigelbb

If you had contributed for less than two years you would have had your contributions returned to you.