Transferring from the LGPS

To ensure that you comply with the 12 months time limit for transferring your membership to your new Local Government Pension Fund (LGPF), you must either:

• Contact your new LGPF to inform them that you have previous benefits with the Cambridgeshire Fund or the Northamptonshire Fund, and that you wish to investigate the possibility of transferring; or
• If you wish to speed up the process, you can complete and forward the following form: IFTVOUT01 Transferring Membership between LGPFs DB.

Note: If you have commenced LGPS membership with a Fund outside of England and Wales, please refer to the other section.

If you wish to investigate the possibility of transferring your pension rights to another arrangement other than a Local Government Pension Fund within England and Wales, you will need to either;

• Complete the Application to Transfer Out Local Government Pension Scheme Benefits and return it to your new pension provider; or
• If you are responsible for obtaining the transfer details yourself, complete the above form and return it directly to either Cambridgeshire Pensions Service or Northamptonshire Pensions Service, depending on which Fund your benefits are held under.

For further information please read FAQs Transferring your pension rights to another pension arrangement.

Freedom and Choice

From 6 April 2015 members of certain pension schemes will have more freedom over how to take the money from their pension.

This flexibility does not apply to a Defined Benefit scheme such as the Local Government Pension Scheme (LGPS), and will therefore not have a direct impact on your LGPS benefits.

However, it may affect you if you are transferring your LGPS benefits to a Defined Contribution scheme, for example, you may need to obtain approved independent financial advice before transferring.

Should you wish to read more about how transferring to a Defined Contribution scheme may affect you please read the Q and A for members transferring from the LGPS to a Defined Contribution scheme.

Important: Other schemes may have time limits within which you need to complete a transfer in to them. You will need to check this with your new arrangement. 

From 6 April 2015 members of certain pension schemes will have more freedom over how to take the money from their pension.

This flexibility does not apply to a Defined Benefit scheme such as the Local Government Pension Scheme (LGPS), and will therefore not have a direct impact on your LGPS benefits.

However, it may affect you if you are not already in receipt of your LGPS benefits and are considering transferring them to a Defined Contribution scheme when, for example, you may need to obtain approved independent financial advice before transferring.

Should you wish to read more about how transferring to a Defined Contribution scheme may affect you please read the Q and A for members transferring from the LGPS to a Defined Contribution scheme.

Pension Liberation Fraud is a scam where savers are encouraged to transfer their pension fund to an arrangement on the promise of bogus ‘pension loans’ or cash incentives.

Tax charges of over half the value of your pension could fall on you for taking an ‘unauthorised payment’ from your pension fund in this way. Plus, high fees could be deducted from your pension for the transfer.

Fraud of this kind is on the rise in the UK, with people being targeted via unsolicited calls or text messages. To find out more read the Pensions Regulator’s guidance or visit their website – http://www.thepensionsregulator.gov.uk/individuals/dangers-of-pension-scams.aspx