12 month transfer window - does it matter when?

anotherdollar

I am planning to transfer my Civil Service pension to my new employers scheme (Teachers Pension Scheme). I am near enough transferring from one scheme into near enough the same scheme. I have 12 months to transfer. Is there an advantage in leaving the transfer to say month 10?

I am only asking, since I have received a transfer quote, but they said they would recalculate on the date of transfer. At the moment, my Civil Service Pension is being Indexed Link, so the transfer value is increasing. I am not expecting a payrise in my current (new) job, so I was wondering if it actually matters when the transfer happens within the 12 month window?

mania112

It would only matter if the civil service scheme increases at a different rate to that of the Teachers scheme - without checking I don't know if that's the case.

The recalculation statement is only to cover their backs in case something dramatic happens and they need to realign your pensions value.

anotherdollar

I am a little confused, since my old pension (the civil service one) is being indexed linked by inflation; but the new one is linked to my current salary which is fixed. Surely if I transfer before I get a pay rise in my new job, then this would make the transfer value higher, therefore I would have a longer pensionable service on transfer? Maybe I am missing something!