Pitfalls for leaving public pension scheme for prsa job

K

kevosdevo

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Tempted to leave the public sector where I'm a member of the single pension scheme for a private sector gig. Using online calculators it seems if I contribute c.10% now and my employer 5% or more I'd be getting close to my public sector pension when I leave (they want to do what they can to match what I'd be getting on the single scheme as they consider the roles analogous) and ramp it over over time (currently I'm 38). Obviously there's risk in the prsa and some benefits like death in service might be gone but is this crazy? I have only 4 years of public service and nothing before then.
 
To be honest Kev - I think there is a bigger question. You are 38 - are you happy staying in your current role (or moving with limited flex in the PS) for the rest of your days - 30 years - or would you prefer to change role and think you would be more fulfilled in another role? I have faced a similar situation, and had to ask myself if it was worth 30 years of a compromised career and less job satisfaction for what might be a bit more in a pension (if I am healthy enough to enjoy it, touch wood!)

I would notl et the pension be the deciding factor here
 
Thanks Gravitygirl. Yes you got the situation spot on really. Heart says go for it, terms and conditions are good the only uncertainty really is the pension piece.
 
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