Pension Question (re-joining railway after a break)

galaxynew · 6 May 2019

Wondering if anyone has left the railway and re-joined a few years later and could give some advice on the railway pension scheme (RPS)?

I have a preserved railway pension including BRASS and after a number of years not working for the railway i am about to return, not sure if i start a new pension as any new starter would or my preserved one gets made "live" again?

RailUK Forums

greatkingrat · 6 May 2019

You will start a new separate pension, however you can if you wish ask for your old pension to be transferred into the new one.

Aivilo · 6 May 2019

As above, some companies do have a buy in limit so this could be a factor to think about

Islineclear3_1 · 7 May 2019

Do you know the value of your old pension? How long were you in it for? Is it worth keeping frozen and starting a new one, which presumably, isn't a final salary scheme? You might want to do the sums yourself or get a Pensions Adviser to help

galaxynew · 7 May 2019

Thanks

Will get someone to look at the figures yes, just wasn't sure how it works when re-joining the railway

tiptoptaff · 7 May 2019

I would strongly suggest speaking to a financial adviser before making any decisions on moving large amounts or buying and selling years in the old and new scheme

Pension Question (re-joining railway after a break)

galaxynew

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RailUK Forums

greatkingrat

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Aivilo

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Islineclear3_1

Established Member

galaxynew

Member

tiptoptaff

Established Member