Local Government Pension Scheme Hampshire Pension Fund by ibj82443


									Local Government Pension Scheme

Hampshire Pension Fund

Pension Transfer Booklet

    The Stages of a Transfer

                   STAGE 1:
                   Write to your previous pension provider(s) and
                   ask for transfer details. Enclose Form A and B.

                   STAGE 2:
                   Your previous pension provider will send the
                   details directly to you.You must send these and a
                   copy of Form A to the County Council’s Pensions
                   Services Section.

                   STAGE 3:
                   Pensions Services will send you a pension
                   estimate informing you of the additional service
                   your transfer will buy. To enable your transfer to
                   go ahead, we will include partly completed forms.

                   STAGE 4:
                   If you wish to go ahead with the transfer, send all
                   the documents we have ticked on the checklist
                   to your previous pension provider within any
                   guarantee period. It will then pay the transfer
                   value to Pensions Services.

                   STAGE 5:
                   We will notify you when we have received
                   the payment and send you a formal notice of
                   theadditional service award, called a “service

Notes for Guidance on Transfers
Transferring your previous pension rights into the Hampshire Pension Fund

What if I have previous membership of the Local Government pension
If you have previously been a member of the LGPS, please follow the procedures in the LGPS Pension
Membership Booklet.Your employer should have given you this booklet but an electronic version is
available from our website www.hants.gov.uk/finance/pensions.

What if I have previous membership of another public sector pension
The Hampshire Pension Fund is part of the LGPS, which is a member of the Public Sector Transfer
Club. The Club is a network of public sector pension schemes which have agreed to pay and receive
transfers on the same basis. This means the transfer will provide membership credits of roughly equal
lengths when you transfer between them. A transfer is generally beneficial unless your pay reduces
when you change jobs. We cannot accept a request to transfer under club rules unless it is received
within a year of you joining the Hampshire Pension Fund.

What if I have previous pension rights with a private sector scheme,
personal pension or stakeholder pension?
The transfer of your benefits needs to be completed within 12 months of you joining the Hampshire
Pension Fund, otherwise the terms will worsen or you may not be able to transfer at all.

What must I do?
Before we can look at transferring your previous benefits into the Hampshire Pension Fund we first
need the transfer details from your previous pension provider.
You are expected to give us this information.
To make sure we receive all the relevant information and to make things easy for you, we have
prepared some simple forms for you to complete and send to your previous pension provider(s).
These are Forms A and B and they are included in this transfer booklet.
Your first step is to complete Form A and send it with Form B to your previous provider(s).Your
previous provider(s) should then send you the transfer details.
If you have more than one pension to transfer, please photocopy these forms and send them to all
providers you wish to involve.
When we have the information we will give you an estimate of the additional years and days of service
that the transfer will buy within the Hampshire Pension Fund.You can then decide whether to go ahead
with the transfer.

What if I do not have my previous provider’s current address?
You should write to:   Pension Scheme Registry,
                       Occupational Pensions
                       Regulatory Authority
                       PO Box 1NN, Newcastle Upon Tyne NE99 1NN
All pension schemes must be registered. The Pension Scheme Registry should be able to give you
an address. To help it trace the address, you should give as much information as you know about the
scheme or provider.

Once you know the correct address, you will be able to send Forms A and B to your provider(s).
    What happens next?
    Your provider will give you details of your previous pension and the transfer value payable, i.e. the
    amount of money it will pay us if you transfer your benefits to the Hampshire Pension Fund.

    These details can take up to 6 months to prepare, depending on your provider.

    What do I do when I have received the transfer details?
    Please send them immediately to the Pensions Services Section as transfer values are usually
    guaranteed for only 3 months and some schemes have a much shorter guarantee period. We can then
    give you an estimate of the service and benefits and enable you to make a decision within the
    guarantee period.
            Pension Services Section
            Hampshire County Council
            The Castle
            Winchester SO23 8UB
            Tel: 01962 845588

    What will Pensions Services do when they receive the transfer figures?
    We will use the information to estimate the additional service that the transfer would buy in the
    Hampshire Pension Fund. We will tell you how many years and days this is, and the current value of the
    pension it will provide based on your current pay.You should compare these benefits with those from
    your previous scheme.

    Can previous pension rights always be transferred?
    In most cases a transfer can be made. However in some cases the amount of money to be transferred
    will not cover some of the benefits we are legally required to provide. If this applies to you, we will let
    you know when we see the transfer figures.
    Please note that the LGPS will not accept pension credits awarded by a court under pension sharing

    I have received my transfer estimate from Pensions Services.
    What happens next?
    You must decide whether you want the transfer to go ahead. We cannot advise you on this.You may
    wish to consult an independent financial adviser, who may charge a fee.
    If you decide to go ahead, please read the checklist included with your transfer estimate. Complete the
    relevant forms and send them with any other documents requested to your previous pension provider
    which will then pay the transfer value to the Hampshire Pension Fund. After receiving this payment we
    will write to you confirming completion of the transfer and including a formal notice of the service
    credit awarded.Your previous scheme must get the completed forms within the guarantee period,
    otherwise the process may have to be repeated or your previous scheme may refuse to provide a fresh
    calculation. Some schemes require a fee for providing repeat details, the County Council will not pay
    any charges in these circumstances.
    More information can be found on our website www.hants.gov.uk/finance/pensions
    Hampshire County Council complies with the Data Protection Act 1998

    Your data will only be used for processing your pension rights.

Form A – Member Details
Dear Pension Provider

I am considering transferring pension rights I have with you into the Hampshire Pension Fund
(HPF) of the Local Government Pension Scheme. I have given my personal details below.
Please provide the transfer information requested overleaf, and enclose all the discharge
forms that will have to be completed if I wish to proceed with the transfer. Send these to my
home address with a copy of this form so I can pass the details to my new scheme.

I give my consent to the disclosure of any additional information about my pension to the HPF.

Please process this estimate request quickly, but do not send payment at this stage.
I will contact you again if I want the transfer to proceed.
Yours sincerely

Signature                                        Date

Data Protection: Please read guidance notes before completing.

Title: Mr/Mrs/Miss/Ms
Surname:                                          First Name:
Marital Status: * Married * Single * Divorced * Widow/er
                * Civil Partnership * Dissolved Civil Partnership
(please delete as appropriate)

Previous Surname (if any)
NI No:                                                  Date of Birth:        /    /

                                                        Post code:
Name of current employer:
Date started in current job:                 /     /
Name of previous pension scheme:
Name of scheme administrators:

Membership/Policy No:
Period of Membership:                 /      /     to         /   /                              5
Form B – To the Pension Provider:
If you can offer a transfer value please give the details requested below and return
the information to the member.
If the transfer value includes a pre 1997 protected rights element, details of the
contracted out deduction (COD) must be included with the transfer information.
Without the COD we will have to return the transfer estimate to the member.
If you need the Hampshire Pension Fund and/or the member to sign any
discharge papers, please make sure you include them when you send the transfer
details to the member.

Details required if you are an occupational scheme:
•       The dates of service upon which the employee’s entitlement to benefit is based.
•       The dates of contracted out employment if different.
•       The weekly amount of GMP accrued to the date of leaving and type of revaluation
        operated. Split pre and post 88. (Pre 97 Protected rights must be converted
        into a GMP before sending the transfer estimate.)
•       Your PSTR number
•       Your ECON and SCON number
•       The transfer value (excluding any AVC fund)
•       Value of any accumulated AVC fund.
•       Date the scheme AVC began
•       Post 1997 protected rights
•       Current benefits value
•       Details of any pension sharing or earmarking orders.

Details required if you are a personal pension arrangement:
•       The dates of membership of the pension arrangement
•       The basis of your Inland Revenue approval
•       Your ASCON number
•       The weekly contracted out deduction (COD)accrued to the date of leaving. Split
        pre and post 88. (Protected rights must be converted into a COD before
        sending the transfer estimate.)
•       Transfer value
•       Details of any pension sharing or earmarking orders
•       Form CA1548 (APP13)

Information about the Local Government Pension Scheme (LGPS)
The LGPS is a “statutory scheme” and became a registered pension scheme on 6 April 2006
in accordance with paragraph (1) of Schedule 36 to the Finance Act 2004. The Scheme’s PSTR
number is PSTR00329946RE.
ECON: E3900002R SCON: S2700151E
GMP Revaluation Rate: Section 148 Orders
Please regard this as authority for you to contact the Inland Revenue Savings, Pensions and
Share Schemes Office for confirmation of scheme status or any related issues.
LGPS SF reference number : 49/1108

Scheme Administrator:          Pension Services Section
                               Hampshire County Council
                               The Castle Winchester
                               SO23 8UB Tel: 01962 845588

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