Public Sector Pension

Jules199

I joined the Civil Service in 1985 and took partial retirement in 2021 continuing until 2024. I then left the Civil Service and joined the NHS. I am currently claiming my civil service pension and now paying into the NHS pension, again working part time.  I have been told I can transfer my Civil Service Pension into the NHS Pension.  I would like to know if this is the best thing to do or should I leave my Civil Service Pension where it is?  I know I am affected by the McCloud Judgment but as of yet I have not been told what difference that will make.

DE_612183

Which scheme are you on for CS pension?

Marcon

Jules199 said:

I joined the Civil Service in 1985 and took partial retirement in 2021 continuing until 2024. I then left the Civil Service and joined the NHS. I am currently claiming my civil service pension and now paying into the NHS pension, again working part time.  I have been told I can transfer my Civil Service Pension into the NHS Pension.  I would like to know if this is the best thing to do or should I leave my Civil Service Pension where it is?  I know I am affected by the McCloud Judgment but as of yet I have not been told what difference that will make.

Do you mean the NHS pension administrators have told you that you can transfer a Civil Service pension that is already in payment into the NHS scheme?

xylophone

 joined the Civil Service in 1985 and took partial retirement in 2021 continuing until 2024. I then left the Civil Service and joined the NHS. I am currently claiming my civil service pension and now paying into the NHS pension, again working part time. 

Do you mean that you are currently in receipt of your CS pension in respect of service 1985 - 2021 and 2021-2024?

Jules199

So I joined the CS scheme in 1985 in Classic, then in June 2021 took partial retirement and continued paying in part time in Classic then also in 2021 was moved into Alpha, Since June 2021 have been working part time, claiming my pension but continuing paying into Alpha until December 2023 when i left the Civil Service and am now paying into the NHS pension.  I do know that I can transfer my CS pension to the NHS but do not know whether I should?

Marcon

Jules199 said:

So I joined the CS scheme in 1985 in Classic, then in June 2021 took partial retirement and continued paying in part time in Classic then also in 2021 was moved into Alpha, Since June 2021 have been working part time, claiming my pension but continuing paying into Alpha until December 2023 when i left the Civil Service and am now paying into the NHS pension.  I do know that I can transfer my CS pension to the NHS but do not know whether I should?

Have you asked the NHS scheme to provide a quote to show what any such transfer would secure for you in terms of extra benefits? It's then for you to decide whether or not those are 'better' than leaving the CS pension where it is.

Jules199

No,  I didn't think they would know that or whether the CS scheme would know that either, obviously i want to do whatever will be most beneficial financially.

theoretica

They should be able to tall you what the benefits and T&Cs would be if you transferred your pension.  They can't expect people to transfer large sums of money without being told what it will get them.   You would have to be the one to work out whether it was better or worse for you than the existing arrangement.

Andy_L

Jules199 said:

I joined the Civil Service in 1985 and took partial retirement in 2021 continuing until 2024. I then left the Civil Service and joined the NHS. I am currently claiming my civil service pension and now paying into the NHS pension, again working part time.  I have been told I can transfer my Civil Service Pension into the NHS Pension.  I would like to know if this is the best thing to do or should I leave my Civil Service Pension where it is?  I know I am affected by the McCloud Judgment but as of yet I have not been told what difference that will make.

This is true, however I suspect there has been some miscommunication/understanding

You can transfer a pension that you have not yet started taking, (ie you left the CS, your pension became deferred & you then started working for the NHS) not one that you are already claiming.

gwynlas

There should be a pensions officer in payroll who would be able to advise whether it is beneficial to transfer your Alpha pension over to NHS. I would think that there would be a benefit rather than potentially receiving three pensions plus statutory pension in the future.

Marcon

gwynlas said:

There should be a pensions officer in payroll who would be able to advise whether it is beneficial to transfer your Alpha pension over to NHS. I would think that there would be a benefit rather than potentially receiving three pensions plus statutory pension in the future.

There certainly won't be! They aren't authorised to give financial advice.

Jules199 said:

No,  I didn't think they would know that or whether the CS scheme would know that either, obviously i want to do whatever will be most beneficial financially.

Why would you transfer if you don't know what benefits you'd get/forego by doing so? Up to you to get a quote and then decide whether it will give you more benefit financially to transfer or stay put.