Civil service pension question to nuvos or not

[michael_JCWS]

My wife has just started a new role and has to select bas to select her civil service pension

The choice is nuvos or partnership pension

Looking through the literature I can not see why anyone would choose anything other that nuvos?

[The Leaper]

Having read through all the available literature, I would agree that Nuvos looks to be preferred to Partnership. Nuvos looks like a revalued career average plan and partnership looks like a money purchase plan. These are very different concepts.

I think the best answer to your point is that it will depend on your personal finances, expectations, and preferences as to how pension is built up over the years of membership. There are substantial differences in features and some are more attractive than others, so it's a matter of seeking out what fits each person's circumstances. Pensions are only part of financial planning so maybe your wife, and you, together should seek some professional advice on this, especially as the decision has extremely long lasting effects.

For Mr/Ms Average, Nuvos could be considered the default and I suspect the Civil Service are expecting Nuvos to be the choice for the great majority of new hires.

R.

[Ginge R]

The Treasury will be reporting soon with details of the price cap. I am keeping one eye on forthcoming military scheme details so don't know too much about the civil service scheme. However, long term sustainability of CARE schemes in the public sector does present a risk at worse, and an unknown at best.

https://www.gov.uk/government/uploads/system/uploa...