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Leaving LGPS Pre-Retirement

If you leave the scheme before retirement age, you have a number of options with regard to your pension benefits.  The options depend on how long you have been a scheme member and whether or not you have transferred membership from a previous pension provider.

If you leave with less than 3 months scheme membership and have not transferred any previous pension rights into the Clwyd Pension Fund, you will have the option to either have a refund of pension contributions or to transfer out the pension to another pension scheme.

If you have more than 3 months scheme membership (or a transfer of previous pension benefits takes you over 3 months), you will have the option to either defer your pension benefits until retirement age or transfer out to another pension scheme.

Information in this area
Deferred
If you have more than 3 months scheme membership (which may include the transfer of previous Councillor LGPS membership), your LGPS benefits will automatically be deferred until you reach age 60.
Refund
If you are eligible to receive a refund of pension contributions, you will receive the refund minus 20% tax and an amount equivalent to the National Insurance contributions you would have paid if you have not been an LGPS member. This is to ensure that you are re-instated in the State Second Pension (S2P).
Transfers Out
You may be able to transfer your LGPS pension to another occupational or private/stakeholder pension. You will not be able to transfer it to another Local Authority Pension Fund.
Updated on: 10-Jun-2010 16:16:01
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Clwyd Pension Fund, County Hall, Mold, Flintshire CH7 6NA 01352 702761 Disclaimer