Moving LGPS to a new Local Authority
I’ve been paying into a LGPS for just coming up to 24 years. There have been a number of changes over the years which I’ve not really kept up with, I pay in and my employer does too. I’m moving to a new local authority later this year and just presumed I would move my current pot with me and combine it into one new one but I’m not sure if it’s as simple as that with me having better benefits linked to my current one before all of the changes.
I know that’s a bit vague but do you have any advice? Am I better keeping them separate? I will be moving to a better paid position. A colleague who combined their 3 pension pots recently told me he was hit with a massive tax bill. I’m just not sure where I need to go to for advice.
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