Transfer pension from old local authority to new local authority?

family355

Hoping someone can help...
I have an old pension with a local authority I worked for, from Feb 05 - Aug 13, Around 8.5 years. It was mixed full/part time roles with 2x breaks for maternity leave. It states this is available from 2051.

I left the authority and was then self employed from 2013-2016 (with no pension provision)

I then took a job in another local authority in Nov 16, where I remain full time and pay in 6.5% a month, This states it is available from 2054.

Should I move the old pension into the new pot or leave it where it is? 

I have only just signed up online for both so can find additional info if needed. As you can tell, I find it difficult to navigate in this area so any help/understanding will be gratefully received. Thank you. 

blues

When I moved from one local authority to another I was told I only had a year to move my old pension over to the new authority, otherwise it was too late.

Silvertabby

When you joined the LGPS in respect of your second post, you should have completed 'joining' forms in which you would have given details of previous LGPS benefits.

If you didn't receive these, then it's worth asking your LGPS if you can still look at transfer options.

If they agree, then you will need to weigh up the earlier payment date against the possible uplift from the final salary link (ie, if your current whole time equivalent pensionable pay is higher than your old).

hyubh

family355 said:

Hoping someone can help...
I have an old pension with a local authority I worked for, from Feb 05 - Aug 13, Around 8.5 years. It was mixed full/part time roles with 2x breaks for maternity leave. It states this is available from 2051.

I left the authority and was then self employed from 2013-2016 (with no pension provision)

I then took a job in another local authority in Nov 16, where I remain full time and pay in 6.5% a month, This states it is available from 2054.

Should I move the old pension into the new pot or leave it where it is? 

I have only just signed up online for both so can find additional info if needed. As you can tell, I find it difficult to navigate in this area so any help/understanding will be gratefully received. Thank you. 

As you left under the final salary scheme, the default on rejoining was separate benefits with a time-limited option to aggregate (leave under the CARE scheme, and the default is flipped). The time limit is 12 months with an employer discretion to increase it, which is unlikely, but you can but ask.

That said, it would typically only be worth aggregating if the pay in your current job ends up higher, in real terms, than the whole-time equivalent pay you left on in 2013.

Lemon_dr1zzle

If your employer allows your look into aggregating your old membership you will have the choice of moving across your final salary service and keeping your final salary pension.  Alternatively you can purchase additional CARE pension in the CARE scheme with the value of your final salary benefits. 

family355

Thank you very much for your replies, I have emailed to check if it is possible to transfer. I didn’t realise it was time limited.