Has anyone transfered their Armed forces pension to the Railway Pension Scheme?

[NorthDiver]

Hello,

I've been a driver with Northern for 3 years now and previously did 5 years in the Army as a squaddie.

Wondering if this is worth doing and what the pro ands cons are. 5 years as a squaddie is obviously a small amount so wondering if it is worth it?

Thanks

 

[Rockhopper]

You need to speak to a financial advisor as everyone's circumstances are different.

 

[LCC106]

Not an army pension but I tried to transfer a personal and professional pension in and it wasn’t allowed. Might be worth contacting the Railway Pension Scheme itself for advice.

 

[tallpaul82]

I tried to move a Police pension and they said it couldn’t be done either. Maybe make an enquiry and go from there.

 

[anglian96]

I tried to do my army one and they said I couldn't do it. If you find a way of doing it please let me know

 

[Horizon22]

RPS (Railways Pension Scheme) will normally not allow anyone to transfer in, because it generally has better benefits than external providers so isn’t worth their while.

 

[whoosh]

Depends on what part of the scheme you are in (so which TOC you work for), as each section has different rules regarding transfers in.

 

[ninhog]

I applied to the RPS board to transfer in a previous pension but they declined the application.

 

[Efini92]

Hello,

I've been a driver with Northern for 3 years now and previously did 5 years in the Army as a squaddie.

Wondering if this is worth doing and what the pro ands cons are. 5 years as a squaddie is obviously a small amount so wondering if it is worth it?

Thanks

You’re best off seeking financial advice. It’s not always worth transferring it in.