McCloud and NHS Pension

Knowhere

TARDIS said:

This free calculator gives an estimation of the two schemes for non-practitioner members: https://grid.is/@tony.goldstone/nhs-mccloud-explainer-knBr0NLkTHqLsX9Q8h48mQ

Thanks for the interesting link.  It didn't quite work when I tried it but that might be me and didn't have time to keep trying.  I'll try again over the weekend and possibly contact the author if I still have the same result.

kassy64

Just hope when the McLoud judgements figures do come through they are straight forward for the layman to make a “simple” decision as to which is most financially beneficial. I know they can’t give financial advice as such but are the pension administrators obliged to point you to the most beneficial option in any way. 

Bobinyorkshire

When I’ve had estimates in the past, all I’ve had is the annual pension amount, lump sum and potential pension for any dependents if you die. Alongside this is the reduced pension amount should you take a larger lump sum. I intend to take all pensions (95 and 2015) at the same time, incurring the actuary reductions for both so hopefully it will be an easy comparison. If you elect to leave the 2015 until nearer the NRA then this may be a bit more complicated as it rises at a faster rate annually (as previously mentioned)