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Leaving LGPS Pre-Retirement

If you leave your current job before retirement, 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 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 Benefits

If you have more than 3 months scheme membership (which may include transfers into the Clwyd Pension Fund), 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

Transfers Out

Your benefits can be transferred out of the Clwyd Pension Fund at any time providing that your new employer/pension provider is willing to accept the transfer.

Updated on: 15-Jul-2010 12:29:21

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Clwyd Pension Fund, County Hall, Mold, Flintshire CH7 6NA 01352 702761 Disclaimer