Option Forms for Transferring Benefits out of the South Yorkshire Pension Fund (LGPS)

You are here because you (or your client) is considering transferring benefits out of the South Yorkshire Pension Fund, which is part of the Local Government Pension Scheme (LGPS).

 

What is your (or your client’s) LGPS membership status?

 

Preserved Refund Member » A Preserved Refund Member is someone who left the LGPS having not met the required vesting period in order to be entitled to Deferred Benefits.  The only options available to such people are to receive a refund of contributions (less statutory deductions) or to transfer rights elsewhere

 

Deferred Member » A Deferred Member is someone who left the LGPS having met the vesting period required in order to entitle them to long term benefits from the scheme.  Those benefits are currently preserved within the scheme, and payment is deferred until such a time as the scheme rules allow payment.

  

Deferred Ex-spouse Member » A Deferred Ex-spouse Member is someone who has  been awarded a pension credit as a result of a pension sharing order resulting from divorce proceedings.

  

LGPS AVC Transfer only » An active or deferred member who has met the vesting period required in order to entitle them to long term benefits in the scheme.

 

Disclaimer

SYPA staff cannot by law give financial advice.

For independent Financial Advice please try following the website http://www.unbiased.co.uk.

SYPA accepts no responsibility for the service and/or advice that Independent Advisors might provide