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Where to get advice on NHS pension

2 replies

notsohot · 14/05/2014 08:49

DH and I both work in NHS. DH will be 55 in Sept and he is thinking about retiring. This is a change of plan and v much a response to how bad things are. We could do with some independent advice about the pension scheme - tax implications, effect of deferring it if DH finds part-time work for a few years, effects of commuting part of it, etc.
HR haven't been v helpful and the organisation aren't running any prep for retirement courses that cover these issues.
Can anyone recommend a 'specialist' financial adviser in East Midlands - or info on internet beyond NHSBSA stuff.
TIA

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BlackandGold · 14/05/2014 09:31

If it's a final salary scheme wouldn't he have received annual updates? They would give him a figure for a lump sum and monthly pension but probably calculated to working until state pension age.

Is he able to speak directly with the pension provider?

notsohot · 14/05/2014 11:00

Thanks for the reply B&G.
It is a final salary scheme for Nhs staff and he has a statement that gives lump sum and monthly pay if he retires at 55 (ie minimum pension age and reduced) or later. It's administered by the Nhs business services authority who have info on website, which we have read.

But it's really about getting help from someone who is knowledgeable about the tax angle and the impact of deferring claiming it for a few years, or increasing the lump sum and reducing the monthly payment. I'm a bit younger than Dh and DDs are 15 and 10 - so thinking possibly about higher ed fees etc.

I can't find a local financial adviser who advertises as being interested in Nhs pensions but perhaps that's not crucial? Since we know what he's entitled to - it's just help understanding the options about how to take it, that we need. What do you reckon?

Thanks

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