Will I lose some of pension when transferring

alanco15

Yeah I guess I won't really know until I go
I think mines premium, but just looked on my wage slip and it says alpha ??

hyubh

alanco15 wrote: »

It would be uniformed, operational.

Ah, forgot what I previously said about LGPS 2008 then. The NPA of the CARE Firefighters Pension Scheme is 60; this carries over from the NPA of the last final salary version (NFPS 2006), which was a 1/60ths scheme (the last final salary versions of the major public sector schemes were all pretty similar). I would guess that a Club transfer of final salary benefits would earn a NFPS 2006 service credit... however, as and when you get this new job, you should check with the pensions administrator. Either way, the point about the ability to transfer out to a DC arrangement goes away (not that this would likely have been a sensible option to take up).

Like the LGPS, the FPS is locally administered, and for historical reasons/inertia the administrator is likely to be the LGPS administrator for the area. LGPS admin itself is typically done 'in house' by the county council (if it still exists) or another large local authority, though there are some exceptions. This might be where the notion of a 'local authority fire service pension' came from...?

I think mines premium, but just looked on my wage slip and it says alpha?

Alpha is the current civil service CARE scheme (since April 2015). Could well be that you were in Premium then were moved into Alpha. If so, you have mixed final salary/CARE benefits that would involve a mixed final salary/CARE service credit in a Club transfer. The CARE part would keep the revaluation rate of the old scheme (like the LGPS, Alpha is CPI but the CARE FPS is a bit better than that), though the NPA would convert, which in your case would be downwards (from state pension age to 60).