primrose

Can I ask what you have done or plan to do with your NHS pension?

Any tips?

Lisa

Rich and Angie

Hi Lisa

Rich has a NHS pension and has been advised to contact the pension dept and advise them of the move to Oz. Apparently not sure how true it is but we have been told it gets froze and then we are eligible for it on age of retirement. I think there must be more to it than that to be honest. If I find anything else out I will let you know.

Ang

rumbletum

Hi LIsa

I contacted NHS Pensions dept prior to coming over here in June and was told that I didnt have to do anything with my pension. It would automatically be frozen unless I ask my employer in Oz to transer it over. I can transfer it at any time I want - she said there is no time limit. I had heard from colleagues that had doen the same thing, that if you have had your pension for more than 15 years, then it is advisable to transfer. I had been contributing for just over 14 years!!
What I have been advised by someone though, it to carry on paying NI contributions in the UK as this will mean that I will be entitled to a full UK State pension when I retire...

JAJ

NHS Pension - I would consider very hard the pros and cons of leaving it where it is. Transferring may not be to your advantage - at the very least get some good advice from someone who knows both systems inside out and isn't going to starve if he doesn't sell you something. To transfer the NHS pension may be an irreversible decision, so think very hard about it.

State Pension - Again, consider very hard whether you should continue to make contributions, as opposed to an alternative investment. Remember the UK state pension will not be indexed for inflation if you're in Australia when you receive it. Note this problem does *not* apply to the NHS pension - that should be indexed in payment as normal.

Jeremy

rumbletum

Thanks for that Jeremy. I was actually planning on leaving my pension in the UK but the NI thing had me a bit confused. I am not the cleverest when it comes to things like this but it does sound as though investing elsewhere instead of National Insurance might be of more benefit to me in my retirement. Thanks again

philian4

Hi Lisa,

We spoke to a pensions bod at the exhibition in York earlier this year (we are both nurses). He was concerned about freezing and not transfering NHS pensions something to do with tax (isn't it always!) We are looking into it at the moment but it does seem that every case is different. I worked part-time for a long time hubbie didn't so we're two different issues apparently. I would contact a company that deals with this issue and get some solid advice

Best of luck,

Philomena x

Grayling

You may all find this site helpful:


http://www.nhspa.gov.uk/

G

primrose

Thanks for the above info Grayling; and thanks to everyone else who has replied.
Will have to do some homework on this I think.

Lisa

tiredwithtwins

i cashed mine in as i had only been paying into to it for a short time....but trying to get the refund is like getting blood out of a stone!! I have sent no less than SEVEN refund applications, and still they lose them!!!
so anyone chosing to get a refund, good luck!!!

sue