How long does an NHS Pension contribution refund take?

jem16

Mr_Falling_Star wrote: »

he is adamant you get the contributions you made plus what the NHS made refunded to you.

He is wrong.

Mr_Falling_Star

Thanks thought so

Andy_L

You only get to keep the NHS contributions if you transfer it to another pension, not if you take the cash refund

McKneff

you get the refund (your contributions only - less tax remember)

makingtrails

Whats is the tax rate on a pension refund? and are they any fee's for releasing?

I recently joined the NHS (within 2 years) and transferred a small pension of £3,000 from Standard Life who advised me under no circumstances I could cash in my pension before I turned 55 (I'm 26 now).

I understand that I can opt out of my NHS pension and cash in the amount I have inputted but at what cost?

I want to keep my NHS pension or at least join back at a later date as I know it's one of the best pensions around but I could really do with releasing the amount I transferred in so I can fund my own career development in the short time which means improved salary and improved pension contributions in the long term.

Any advice?