Author Topic: Pension Question Removed  (Read 964 times)

Pension Question Removed
« on: 26 April, 2023, 10:33:20 am »
Question retracted

rogerzilla

  • When n+1 gets out of hand
Re: Transferring NEST Pension funds into NHS Pension Scheme
« Reply #1 on: 26 April, 2023, 10:39:25 am »
It depends how much guaranteed annual pension, and what indexation, they give you in return.  It also depends if you value certainty above all else.  You have to do the calcs yourself or pay for financial advice, as advising on this sort of thing is, I believe, verboten unless you are qualified.

Our now-frozen DB scheme stopped transfers in ages ago as the scheme didn't want to increase its exposure any more than it already had.
Hard work sometimes pays off in the end, but laziness ALWAYS pays off NOW.

Re: Removed
« Reply #2 on: 26 April, 2023, 10:59:26 am »
RZ

Thanks for your reply.

I've removed the question and will seek professional advice

rogerzilla

  • When n+1 gets out of hand
Re: Pension Question Removed
« Reply #3 on: 26 April, 2023, 03:52:11 pm »
Advice can be expensive so may only be worth it if the NEST pension is reasonably large.  However, they provide a calculator for the likely benefits.

I plugged in a few numbers and they reckon a £100,000 pot at 55 would be worth £122,000 at 65, which implies growth of 2% p.a. (sensibly conservative).  That would buy an annual pension of £4,730 with indexation but without a guaranteed sum on death.

If you use the calculator it will give you something to compare to the NHS offer, but you have to remember that the NHS option, if in the form of added years or pension credits, is virtually risk-free in future.

 https://www.nestpensions.org.uk/schemeweb/NestPublicWeb/faces/public/BE/pages/pensionCalculationPublicArea.xhtml
Hard work sometimes pays off in the end, but laziness ALWAYS pays off NOW.