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Do I transfer my pension?

Discussion in 'Scotland - education news' started by Devon Dumpling, Aug 14, 2019.

  1. Devon Dumpling

    Devon Dumpling New commenter

    Good evening chaps!

    I wonder if anyone has any experience of transferring (or not) their English pension to a Scottish one. Hoping this isn't a stupid question and that I've not missed something obvious.

    I'm about to start teaching in a Scottish school (on Monday - in August!!) and I am automatically enrolled in their pension scheme, but I do have the option to transfer my old pension if I wish.

    No idea what the best course of action is or where to get good advice. I have worked 14.5 years, full-time so don't want to make a mistake with the pension I've built up so far.

    Any advice gratefully received.

    Thanks!!
     
  2. Effinbankers

    Effinbankers Lead commenter

    You'll be able to get advice from your trade union (make sure you join one) and from the Scottish Public Pension Agency.

    Don't know what your pension set up is like down south but if you've been teaching more than 5 years up here you have one scheme pre-2014 which you can get at age 60 and since then a different scheme which you can access at state retirement age. Confused? It's bonkers - thank George Osborne.

    You might not want to transfer your funds into our new scheme if it means you have to retire later, so important to get advice.
     
  3. Devon Dumpling

    Devon Dumpling New commenter

    Thank you. I tried to have a look at the info myself and decided that I needed an enigma machine to try and uncode it!

    I joined a union yesterday (EIS) so I'll get some help!
     

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