Pension Question (re-joining railway after a break)

[galaxynew]

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?

 

[greatkingrat]

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]

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

 

[Islineclear3_1]

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]

Thanks

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

 

[tiptoptaff]

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