NHS pension/McCloud decision

Purplelady65

Apologies I wasn’t aware switching back from 2008 to 1995 was even an option. That’s really interesting as I haven’t heard anyone mention it but I think the numbers who would have transferred from 1995 to 2008 would be small. I don’t know anyone who has done this. An option would be to switch back to 1995, continue to pay into the 2015 scheme then when you turn 60 take the 1995 pension and if you want to carry on working you can still continue to pay into the 2015 pension scheme. This only came in as an option in October 2023 although you would need to reduce your pay by 10%. See if your employer offers any pension information workshops. They don’t offer advice but they do provide information and explain the options available so you can do your own calculations and make an informed choice. Have you looked up your Total Reward Statement on ESR? That might help.