Transferring Out

Transferring Out

If you leave the scheme at least one year before your Normal Pension Age (NPA) you may investigate transferring the cash equivalent of your pension benefits into a new pension arrangement if they are willing and able to accept it. The method of valuing the cash equivalent of your pension rights complies with the requirements of the Pension Schemes Act 1993 and any value quoted is guaranteed for three months. You should always seek independent financial advice before deciding to transfer your benefits out of the Local Government Pension Scheme (LGPS).

Alternatively, if you return to employment with an employer participating in the LGPS, then you may elect for the pension rights that you have built up to be added to your new period of membership in the scheme. Such an election must be made within twelve months of re-joining the scheme or such longer period as your employer allows.

Please note: You are unable to transfer out to another pension arrangement if you are within 12 months of your Normal Pension Age (NPA) or you are over your NPA. Your NPA is in line with your State Pension Age (with a minimum age of 65).

If you would like further information on transferring to another pension arrangement or you would like to request a transfer quotation please contact the pension team on 01628 796 668 or e-mail

LGPS Transfer out video

A short video has been produced to help you understand more about transferring out of the LGPS and the points to consider. 

Be ScamSmart

The Financial Conduct Authority (FCA) and the Pensions Regulator have joined forces to launch a campaign aimed at raising awareness of the increase in pension scams. The latest figures reveal that victims of pension scammers lost an average of £91,000 each in 2017.

As part of the campaign the FCA have a range of literature, factsheets and posters
We recommend you seek independent financial advice before electing to transfer out to another pension provider.

FCA Transferring out video

The FCA recently published a video to explain the transfer process in more detail. It is particularly helpful to those members who...

  • have transferred out their defined benefit pension and are unclear whether they received good quality advice, and
  • are considering transferring out their defined benefit pension and want to understand what the process should look like before they start.