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Transferring out benefits

You may transfer out your Police Pension Scheme 2006 (PPS 2006) rights to:

  1. another public sector pension scheme, or
  2. a qualifying recognised overseas pension scheme, or
  3. any other pension scheme which is registered with HM Revenue and Customs, which can include a personal pension plan. Visit the hmrc website for a full list.

Pension regulations provide that you cannot transfer your police pension rights to a defined contribution scheme, such as a money purchase scheme.

If you are opting out of the PPS 2006 while staying in the police, only the third option is open to you.

There are a number of issues to consider before making a transfer:

  1. you must apply for a transfer payment within 6 months of leaving Kent Police or opting out of PPS 2006 (this is extended to 12 months for transfers to a public sector scheme) – these time limits may be extended by Kent Police at their discretion
  2. you are not entitled to a deferred pension from PPS 2006 if you received a refund of contributions - a transfer will be possible only if you repay the refund first. For further details please contact us
  3. you will not be able to have a transfer if you are within 1 year of reaching the age of 65
  4. the transfer value may not necessarily buy the same length of service in the new scheme - an estimate from the new scheme should provide an indication
  5. the range and type of benefits offered by another scheme may be quite different from those offered by the PPS 2006.

You may wish to consult an independent financial advisor before making any decisions about transferring out your benefits. A list of independent financial advisors can be found on the Financial Conduct Authority website.

We must use factors provided by the Government Actuary’s Department (GAD) for calculations. These factors can change from time to time.

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