Alpha buying added pension & ill health retirement

minirobot22

I am having to face the fact that at some point in next 3- 5 years I will probably have to apply for ill health retirement from civil service.

If successful, I’m Likely to get the basic tier ie. No enhancements. 

My pension isn’t great and definitely not enough. 

So, I’m looking at trying to buy added alpha pension whilst I’m still working to boost my pension.

If I purchase the maximum allowed, which seems to be £9k, over several years. And then get ill health retirement on the lower tier. Will the extra added pension I’ve bought when working be taken in to account or are their restrictions I need to know about. 

Also is there any way you can purchase more than your annual salary each year? I have a lump
sum from my divorce that I want to use to purchase added pension but don’t seem to be able to use it as looks like I’m limited to my annual salary - I work part time so it’s quite low.

Basically, I’m Trying to work out the best way to boost my pension as soon as possible.

Grateful for any advice/experience on the above. Thanks 

blues

I had to have a medical before I was able to buy extra pension. I assume this is to avoid the situation you’re describing where someone is  planning to apply for ill health retirement. 

minirobot22

Thanks - that’s good to know. In which case I might be better off using the money from my divorce to pay in to a private pension. 

I’m hoping to continue to work as long as possible but need to be realistic about my health and am beginning to realise working until I’m 67 just isn’t goi g to be feasible. 

Andy_L

What will my pension be?

If you qualify for lower tier, your pension will be made up of:

the total alpha pension you have built up to date

any EPA portions of the pension you have built up

any added pension you have bought

any alpha pension from benefits you have transferred in from another pension scheme.

All these elements will be paid without any reduction for early payment. However, if you have bought:

any added pension by lump sum in the year before you retire; or

a transfer in to your pension that happened less than two years before you retire;

your pension may not be paid out immediately but will be preserved instead.

https://www.civilservicepensionscheme.org.uk/knowledge-centre/pension-schemes/alpha-scheme-guide/claiming-your-pension-section-05/ill-health-retirement-section-05d/