Transferring NHS pensions overseas

Yvonnehsieh1

Hi all,

I have been working in the NHS for 5 years now but am planning on moving to Australia at the end of the year.

Does anyone have any advice if I can transfer my pension or even take it out?

Thanks,

Yvonne

xylophone

You are a (5 years) member of the 2015 pension scheme? See below.

https://www.nhsbsa.nhs.uk/member-hub

You will only be able to transfer your benefits overseas if the receiving scheme is a QROPS registered with HMRC

https://www.gov.uk/guidance/check-the-recognised-overseas-pension-schemes-notification-list#about-this-list

AND is an occupational scheme providing defined benefits.

According to this, such schemes are now rare in Australia and in any event may be closed to new members.

https://www.industrysuper.com/retirement-info/income-streams/defined-benefit-pension/

You will not be able simply to withdraw your benefits from the NHS scheme.

When you leave, it will become a deferred pension - you will be able to access it at the appropriate age (or under the circumstances prescribed by scheme rules).

https://www.nhsbsa.nhs.uk/sites/default/files/2023-03/NHSPensions_RetirementGuide_%28V26%29_202303.pdf