ali Posted April 15, 2014 Report Share Posted April 15, 2014 I received an email yesterday regarding NHS Pensions - now it says that changes are likely from 2015 - might be something that some members have to consider. The source of the email was nursing careers and allied health (in au) I've copied and pasted the gist of it. On Wednesday 19th March the Chancellor of the Exchequer - George Osborne unveiled the most radical reformation of the UK pension regime, dwarfing the A-day changes announced in 2006. Changes, likely to be effective in April 2015, will ban transfers from all public sector final salary schemes, impacting medical professionals such as nurses, doctors, dentists and specialists. The ban will prevent transfers to Australia from the NHS Pension Scheme, leaving members with less than 12 months to take action. Transferring may or may not benefit for you, but you only have a limited window of opportunity to get the facts and make a decision. From April 2015 you will no longer have the option of transferring your pension to Australia - so don't wait until it's too late. Quote Link to comment Share on other sites More sharing options...
Hopeful Posted April 15, 2014 Report Share Posted April 15, 2014 Does this mean though that you can leave it here in the UK and draw at pension age? Just cannot transfer into a Australia pension scheme. i rang the pensions agency about it a few weeks ago but they knew very little- I have asked for a forecast now as the additional changes are in connection with the calculation of lump sum payments. Quote Link to comment Share on other sites More sharing options...
elfie Posted April 16, 2014 Report Share Posted April 16, 2014 thanks ali need to look into this also Quote Link to comment Share on other sites More sharing options...
Andrew Williams Posted April 16, 2014 Report Share Posted April 16, 2014 Hello Please see here: http://www.pomsinoz.com/forum/money-finance/207860-massive-shake-up-uk-pensions.html Quote Link to comment Share on other sites More sharing options...
ali Posted April 16, 2014 Author Report Share Posted April 16, 2014 PIO said it was scaremonger - but was posted by a nursing and allied health organisation so probably worth looking into for reassurance. I transferred my pension from the UK Quote Link to comment Share on other sites More sharing options...
Andrew Williams Posted April 16, 2014 Report Share Posted April 16, 2014 Thanks again Ali. Just want to draw members attention to PIO thread covering this http://www.pomsinoz.com/forum/money-finance/209827-transfer-nhs-pension.html#post1936490537 I am quite passionate about this and want to make sure people have the facts!! Kind regards Andy Quote Link to comment Share on other sites More sharing options...
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