Deferred lpga pension refund

bubbleblowing

Hi, I have a lpga pension that has less than 2 years contributions, but length of employment longer.

I was a teacher at a college and moved to a different department which was teacher development and training, this had a different pension scheme, lpga pension.

There was a delay in moving me onto new pension scheme and as such my contributions are less than two years. I left the college and new job was once again a teachers pension.

I wish to get a refund as contributions are less than two years. Initial I was told over the phone I should get a refund, but was odd my pension was deferred.

I have since been told I cannot have a refund as pension is deferred.

How is the time limit calculated, by length of contributions or employment?

Thanks

DRS1

Isn't LPGA something to do with golf?

Assuming you mean the LGPS there is some detail here
LGPS | Leaving the scheme

hyubh

bubbleblowing said:

There was a delay in moving me onto new pension scheme and as such my contributions are less than two years. I left the college and new job was once again a teachers pension.

What happened in the meantime? According to the rules of the LGPS, eligibility for any other public service scheme, like the TPS, means you aren't eligible for the LGPS. How did pensions enrolment work...?

Separately, what service does your LGPS statement of deferred benefits quote...?

bubbleblowing said:

How is the time limit calculated, by length of contributions or employment?

Strictly speaking, neither. It is technically possible to be an active member without making contributions. However for your case, I'm more inclined to think there was a correction (may be wrong of course) - i.e. you remained in the TPS by mistake, then this was put right.

Marcon

bubbleblowing said:

Hi, I have a lpga pension that has less than 2 years contributions, but length of employment longer.

I was a teacher at a college and moved to a different department which was teacher development and training, this had a different pension scheme, lpga pension.

There was a delay in moving me onto new pension scheme and as such my contributions are less than two years. I left the college and new job was once again a teachers pension.

I wish to get a refund as contributions are less than two years. Initial I was told over the phone I should get a refund, but was odd my pension was deferred.

I have since been told I cannot have a refund as pension is deferred.

How is the time limit calculated, by length of contributions or employment?

Thanks

I appreciate that people have their own reasons for making particular choices, but just checking you realise that your refund would be your own contributions (minus a tax charge), whereas having a deferred pension, or transferring this pension, would mean you get the benefit of the employer contribution? It's impossible to guess the relative numbers, but I recall a post on this site a few months ago where someone was offered a refund of around £800, or a transfer value of just over £7,000.

Silvertabby

It's calendar service, with pension contributions being taken in arrears, so if you started your job on the first of the month but didn't make your first contribution until the last day of the month, then your service would be calculated from the 1st.

Deferred benefits are good, a refund of just your own contributions (less tax) are bad.  As has already been said, the difference is huge.

How old are you?  If less than (currently) 55 you won't be able to access these benefits.  If you are younger, and it's not possible to transfer to TPS, then these benefits will remain deferred in the LGPS, increasing in line with CPI.  You will then be able to access them nearer retirement.