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  • FIRST POST
    • tiny_atoms
    • By tiny_atoms 16th Jun 17, 7:23 PM
    • 93Posts
    • 62Thanks
    tiny_atoms
    Private pension transfer to NHS
    • #1
    • 16th Jun 17, 7:23 PM
    Private pension transfer to NHS 16th Jun 17 at 7:23 PM
    Hi all
    Ive had a transfer estimate as follows;

    my former pension scheme has offered to pay a transfer value of 9857.28, this will buy me a pension benefits in the NHS pension scheme as below

    pensionable earnings credit: 46,733.37

    NHS scheme is DB and other scheme is DC.

    Can anyone tell me what this means? Is it worth me transferring it?

    Help!! Im 31 years old, work part time at the moment.

    Thanks
    Last edited by tiny_atoms; 16-06-2017 at 9:06 PM.
Page 1
    • Silvertabby
    • By Silvertabby 16th Jun 17, 9:10 PM
    • 2,528 Posts
    • 3,482 Thanks
    Silvertabby
    • #2
    • 16th Jun 17, 9:10 PM
    • #2
    • 16th Jun 17, 9:10 PM
    46,733.37 / 54 = 865.43 annual pension from normal retirement age (67?) for the rest of your life.
    • xylophone
    • By xylophone 16th Jun 17, 11:10 PM
    • 25,139 Posts
    • 14,807 Thanks
    xylophone
    • #3
    • 16th Jun 17, 11:10 PM
    • #3
    • 16th Jun 17, 11:10 PM
    NHS scheme is DB and other scheme is DC.

    Can anyone tell me what this means? Is it worth me transferring it?
    https://www.moneyadviceservice.org.uk/en/articles/defined-benefit-schemes

    https://www.moneyadviceservice.org.uk/en/articles/defined-contribution-pension-schemes
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