Scheme Funding- The NHS scheme is currently adequately funded. This typically gives a better transfer value as the scheme can afford to pay out more for transferring benefits out. As per this article, the scheme is predicted to be in deficit by 2013-2014 as described here:


NHS Pension Scheme Reform –This is currently in discussion and a number of changes will be made to the scheme. The implementation will go-ahead in the next 2-3 years and may significantly reduce the pension value.