Transfer army pension to my NHS pension

#1
Hi,

Wondering if anyone can help? I left the army in Jan 2006 and am now employed by the NHS. I wanted to transfer my army pension over to my NHS pension but need some of the details.

Need the details/contact details of my previsous pension provider (British Army). Can anyone help me with these details?

Thanks
 
#3
shadow4509 said:
Hi,

Wondering if anyone can help? I left the army in Jan 2006 and am now employed by the NHS. I wanted to transfer my army pension over to my NHS pension but need some of the details.
Why? I am not an IFA so cannot give advice on pensions, but be VERY careful before you transfer your Army pension any where even to teh NHS.
 

BiscuitsAB

LE
Moderator
#4
sretosf said:
shadow4509 said:
Hi,

Wondering if anyone can help? I left the army in Jan 2006 and am now employed by the NHS. I wanted to transfer my army pension over to my NHS pension but need some of the details.
Why? I am not an IFA so cannot give advice on pensions, but be VERY careful before you transfer your Army pension any where even to teh NHS.
I agree, what are the acrual rates for the army scheme? I'm sure they are higher than the NHS which is 1/80th if you joined pre Apr 2008 and 1/60th for the New NHS pension scheme.

Retirement ages without penalty 80th scheme NRD 60
60th scheme NRD 65

Isnt the army pension NRD 55?

You need a full transfer anaysis doing and you will have to pay for it mate.

I can offer the services of my firm we have a Pensions Transfer Specialist. Or you can contact the IFAP (google them) they will give you a choice of three IFAs in your area. I STRONGLY suggest that who ever you use is a transfer specialist and can prove their qualificationsin the area as it is an extremely complicated area.

As for me I'll stick with working with medics that way I only have to be up to speed on the two NHS pension schemes.
 
#5
You need to get an IFA, but I transferred 5 years (AFPS) into the NHS and they gave me nearly 7/80ths for it. To explain, pre 2008 the NHS pension was a half final salary scheme. Every year you work for them, they give you 1/80th of your final salary as annual pension.

In other words, if you worked 40 years you would be entitled to 40/80ths (forty years at 1/80th per year) and retired with a salary of 40K you would receive 20K per year (40/80 = 1/2) and an initial lump sum of 1 1/2 times your pension ie. 30K.

For your info. only; you really need to speak to someone who knows.
 

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