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Pension query please
#1
Does anybody know the answer or can give advice to the following query please. I was transfered to the 2015 scheme from 1992 approx 3 years ago. My question is, does the best of my last 3 years still count in relation to my part a? There is a possibility that although i'm substantive, if I move roles through my own choice in the next 6 months, I revert back to one rank below my current rank- basically demoted! i have also been paying the higher pension contributions for 8 months now. Lastly, i've 27 1/2 in the service hence my question! Thanks.
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#2
Yes best of your last 3 on your part a.
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#3
Many thanks omegaman.
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#4
Split pension springs to mind here too although I'm not sure how it would be applied in this case, especially with everything up in the air at the moment.
Personally, if the current role is substantive and you can hang on, I'd try and stay where you are because it's got the potential to enhance your pension a fair bit. And certainly get advice (and quickly) before making any rash decision.

Only the other day, I had somebody come up to me who was transferred from the 1992 to 2015 scheme in April 2015. That person then left the 2015 scheme some 6 months later (deferring the lot) and is kicking themself at the moment due to the FBU winning in court.
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#5
tonskih, post: 412771, member: 9219 Wrote:Does anybody know the answer or can give advice to the following query please. I was transfered to the 2015 scheme from 1992 approx 3 years ago. My question is, does the best of my last 3 years still count in relation to my part a? There is a possibility that although i'm substantive, if I move roles through my own choice in the next 6 months, I revert back to one rank below my current rank- basically demoted! i have also been paying the higher pension contributions for 8 months now. Lastly, i've 27 1/2 in the service hence my question! Thanks.

Best of your last 3 years works on 365 days count back. Your last year is your last 365 days. The year before that is literally the 365 days before that etc. For this reason it would be best not to take a salary reduction until two calendar years prior to your intended retirement date. As Lou said a split pension could also be used but following my suggestion would see you being able to choose between your best year in the last 3 OR a split pension option, whichever gives the best result.
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#6
Thanks for the advice gents. I'll take that onboard, hopefully i won't change roles but it may be out of my control in the near future. Either way, I'm in a much better place than I was 12 months ago; particularly, if the remedy gives me the pension back they tried to take from me.
Thanks
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