NHS pension final statement 45% less than annual statement

xylophone

To clarify I am no longer working for NHS so this is a deferred pension after leaving there in 2012. 

You mention 2015 Scheme here

I’m in 2008 and 2015 schemes but the issue is with the 2008 scheme. 

This all seems very confused.

Have you obtained a state pension forecast?

https://www.gov.uk/check-state-pension

spaniel101

alisontaylor94 said:

Thanks everyone who responded to this post. 

To clarify I am no longer working for NHS so this is a deferred pension after leaving there in 2012. I’m aware of the deductions for taking lump sum early and the calculation that I received was for the amount I was to receive based on a leaving date of 31/3/23 aged 60( 5 years earlier than pension age for 2008 scheme of 65). I asked for the amount at that date and the £37k was the reduction based on what would have been £48k maximum lump sum. The annual pension was reduced to take into account taking the maximum lump sum available. However of course because the figure is now showing as £20k for lump sum the annual pension has also gone down too. 

I am still working full time for the moment but had chosen to take the lump sum from NHS and semi retire from end March to take up a new part time job until full retirement age. 

In your initial post, you stated you had watched "the last 3 years statements go from 33K, to 37K" - so where does the 48K appear.    Have you only had your TRS statements (not a personalised estimate) ?

What was the initial (TRS) Annual Pension, without a lump sum ?

What was the initial (TRS) Annual Pension, with a lump sum (37K/48K ??) ?


After leaving NHS in 2012 (again did you transfer in 1995 to 2008 ?), when did you rejoin the (2015) nhs scheme ? 

Also, you can't just 'take a lump sum' but I am assuming you now know this - it has to be taken either predominantly as an Annual Pension alone, or exchanging some annual pension for some lump sum.