I pay into an NHS Pension Scheme Additional Voluntary Contribution (AVC) plan. What are my options with regard to this if I leave the scheme?

I pay into an NHS Pension Scheme Additional Voluntary Contribution (AVC) plan. What are my options with regard to this if I leave the scheme?
Your NHSPS AVC plan is not tied to your main scheme benefits. So, for example you can retain your main NHS benefits in the NHS Pension Scheme whilst transferring your NHSPS AVC.  This can be transferred to an existing Free Standing AVC or personal pension/stakeholder pension provided it has the relevant approval under the Finance Act 2004.

If you have been paying into the NHSPS for less than two years you will be obliged to take a refund of a lump sum equal to the realisable value of the investments you have made into the NHS AVC (less tax).

Comments

Post a Comment

Popular posts from this blog

Don’t Wait, Transfer Your QROPS UK Pension Fund To India Now!

  Did you know that India became the world's fifth largest economy in 2019 in terms of nominal GDP, moving ahead of both France and the UK? While the pandemic and global economic slowdown has pushed it back to 6th place, the CEBR (Centre for Economics and Business Research) has forecasted India becoming the world’s third largest economy by 2030, moving past the UK by 2025, Germany by 2027, and Japan by 2030. If you’ve lived and worked in the UK and have accumulated a pension fund there, the time has never been better to transfer that pension fund to India through a QROPS. Not only do you benefit from the currency exchange rate right now, but you also open up a world of investment opportunities in both fixed-income instruments, as well as equity schemes. Additionally, the UK economy has officially suffered its worst slump since the Great Frost of 1709, meaning the time to get your money out is now. Why should I transfer my pension fund to India? Apart from the fact that the Indian e...
Read more

List of Qualifying Recognised Overseas Pension Schemes (QROPS India) August 2021

  Check the recognised overseas pension schemes notification list Find schemes that have told HMRC they meet the conditions to be a recognised overseas pension scheme (ROPS) QROPS ROPS Country Canara HSBC Oriental Bank of Commerce Life Insurance Secure Bhavishya Plan India Exide Life Golden Years Retirement Plan India Exide Life My Retirement Plan India Exide Life New Immediate Annuity India Exide Life New Immediate Annuity with Return of Purchase Price India Excide Life New Immediate Annuity India Exide Life Smart Pension Plan India HDFC Life Assured Pension Plan India HDFC Life Click 2 Retire India HDFC Life New Immediate Annuity Plan India HDFC Life Pension Guaranteed Plan India ICICI Pru Easy Retirement India ICICI Pru Easy Retirement SP India ICICI Pru Guaranteed Pension Plan India ICICI Pru Immediate Annuity India Kotak Assured Pension Plan India Kotak Lifetime Income Plan India SBI Life – Annuity Plus India Contact us for more details and suitable qrops plan in india.
Read more

QROPS and Indian Economy

  Did you know that India’s economy is the third-largest in the world in terms of purchasing power parity (PPP)? While India is well known for its information technology and business process outsourcing industries, a lot of people don’t realize that we rank second in farm output and 12th in factory output in the world. Additionally, we’re the only country with a population and economy that rivals China and we’re already seeing a global shift with FDI being diverted from China to India on a global scale. If there ever was a time for you to take your pension fund that’s gathering dust in a broken economy that’s only expected to get worse, now is that time. Not only is the transfer through QROPS free of any penalties and charges, but it also comes with investment opportunities that you wouldn’t be able to dream about in the UK. Fixed rate schemes with guaranteed interest rates of up to 10.5% and opportunities to invest in the largest and oldest stock exchanges in Asia and the world. I...
Read more