You must have stopped paying into the Local Government Pension Scheme (LGPS) in all your employments in order to transfer your LGPS benefits to another pension arrangement. Another pension arrangement can include:
- a personal pension plan
- an overseas pension scheme, or
- your new employer's workplace pension scheme if you have left employment.
You must make an election to transfer your benefits at least one year before your normal pension age (NPA). You cannot transfer your benefits if you are within one year of your NPA (or over NPA). If you ceased membership of the scheme before 2008, your NPA for transfer may be different to your NPA for retirement. If you are unsure about your NPA, you should contact us.
You cannot transfer your benefits if you are also:
- a current member of the LGPS in England and Wales, or
- in receipt of a pension from the LGPS in England and Wales.
If you have more than one deferred benefit in the LGPS in England and Wales, you have to transfer all of your deferred benefits.
If you have a pension credit these conditions may not apply. Please contact us for further information.
Protect yourself against pension scams
Watch out for pension scams. They can be hard to spot. Once you have transferred your pension to a scam, it is too late. You could lose all your pension savings and face a tax bill. Protect your pension. Find out about pension scams prevention before you transfer
Transfer out process
If you wish to consider transferring your deferred pension, you should contact your new employer or pension arrangement for details of their process.
If you are thinking about transferring out your LGPS pension and need a transfer value from us, complete the online transfer out initial request form. We send the transfer value to you. You send it to your new pension arrangement.
Your new pension arrangement will tell you what this transfer value will provide for you in their pension scheme.
When you are sure you wish to proceed, you and your new pension arrangement should complete the transfer discharge forms. Return the forms to us within the 3 month guaranteed period.
We are not part of the Origo system which is used within the transfer out process by some pension providers.
Conditions
The Occupational and Personal Pension Scheme (Conditions for Transfers) Regulations 2021 came into force on 30 November 2021. It gives schemes further rules on how we can protect our members against pension scams.
These regulations require that certain conditions must be met before a transfer can proceed. Find out the conditions to meet to transfer out your pension
Making your decision
Make sure you have full information about the 2 pension arrangements. Find out details of what your benefits are worth in the LGPS and what your benefits would be worth in the new pension scheme if transferred, so you can compare.
Find further information in deferred member (no longer paying in) You can can refer to your annual deferred benefit statement to look at what your LGPS benefits are worth. You can also access your account online. Create an account or log in to MyPension Online
You may want to get independent financial advice when making your decision about whether or not to transfer. Find a list of Independent Financial Advisers (IFA) on the Financial Conduct Authority website.
Your IFA needs to know about the LGPS. Your IFA should read transfer out information for pension providers It tells an IFA everything they need to know for transferring out from the LGPS.
Advice you must receive
The Government directs that if:
- you wish to transfer your LGPS benefits to a defined contribution pension scheme, and
- your LGPS benefits are worth a capital value of above £30,000
you must provide proof that you have received pension guidance from a person with a transfer of pensions qualification before you make your decision to proceed. Find out about getting pension guidance
Transferred LGPS benefits
If you transfer your benefits out of the LGPS you will not be entitled to any further benefits for you, your spouse, civil partner, eligible children or eligible cohabiting partner from the LGPS.
Transferring out Additional Voluntary Contributions (AVCs)
You may be able to transfer your AVCs to another pension scheme. Find out about transferring out AVCs
Charges
You can apply for one cash equivalent transfer value (CEV) within 12 months. The 12 month period begins with the date of that application. If you wish to make another application within that 12 month period, you may be charged.