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  • FIRST POST
    • Johnnyboy11
    • By Johnnyboy11 8th Jul 18, 10:33 AM
    • 31Posts
    • 24Thanks
    Johnnyboy11
    Intra-LGPS transfers
    • #1
    • 8th Jul 18, 10:33 AM
    Intra-LGPS transfers 8th Jul 18 at 10:33 AM
    One for the LGPS gurus...


    Way back in 1999 I changed employers and transferred my pension from Strathclyde Pension Fund to Lothian Pension Fund, and received a Statutory Notification crediting my 6-years membership to the new scheme, which was fine.


    However, my salary in the new job was about 12% lower than in the old job, and I wondered if my 6-years membership credit should have been increased proportionately.


    Is this worth challenging?
Page 1
    • Silvertabby
    • By Silvertabby 8th Jul 18, 11:04 AM
    • 2,992 Posts
    • 4,260 Thanks
    Silvertabby
    • #2
    • 8th Jul 18, 11:04 AM
    • #2
    • 8th Jul 18, 11:04 AM
    One for the LGPS gurus...


    Way back in 1999 I changed employers and transferred my pension from Strathclyde Pension Fund to Lothian Pension Fund, and received a Statutory Notification crediting my 6-years membership to the new scheme, which was fine.

    However, my salary in the new job was about 12% lower than in the old job, and I wondered if my 6-years membership credit should have been increased proportionately.

    Is this worth challenging?
    Originally posted by Johnnyboy11
    No. This is way LGPS interfund transfers have always worked.

    The letter(s) you received before you opted to transfer your benefits won't have given actual advice (not allowed) but they should have said something like " you may wish to compare your salaries as, once transferred, your previous service will be calculated using your current salary". You should have/would have been given the option of leaving your benefits deferred with your previous scheme (and thus on your old, higher, salary) if that appeared to be more beneficial.

    How do your salaries compare now?

    28-Jan-99 to 27-Feb-99 1.6011
    28-Feb-99 to 27-Mar-99 1.5969
    28-Mar-99 to 25-Apr-99 1.5926
    26-Apr-99 to 25-May-99 1.5912
    26-May-99 to 25-Jun-99 1.5898
    26-Jun-99 to 25-Jul-99 1.5884
    26-Jul-99 to 25-Aug-99 1.5868
    26-Aug-99 to 25-Sep-99 1.5854
    26-Sep-99 to 25-Oct-99 1.5840
    26-Oct-99 to 25-Nov-99 1.5825
    26-Nov-99 to 25-Dec-99 1.5811
    26-Dec-99 to 25-Jan-00 1.5797

    Update your old salary as at your date of leaving by using the appropriate multiplicator factor from the tables. If that is now lower than your current salary, then you've benefitted. However, if your current salary is still lower, then I'm afraid that what's done is done.
    Last edited by Silvertabby; 08-07-2018 at 11:20 AM.
    • hyubh
    • By hyubh 8th Jul 18, 11:33 AM
    • 2,182 Posts
    • 1,694 Thanks
    hyubh
    • #3
    • 8th Jul 18, 11:33 AM
    • #3
    • 8th Jul 18, 11:33 AM
    However, my salary in the new job was about 12% lower than in the old job, and I wondered if my 6-years membership credit should have been increased proportionately.

    Is this worth challenging?
    Originally posted by Johnnyboy11
    As Silvertabby says, from the member's point of view, transfers between LGPS funds are treated identically to aggregations within a single LGPS fund - service details are just copied over.
    • Johnnyboy11
    • By Johnnyboy11 8th Jul 18, 4:38 PM
    • 31 Posts
    • 24 Thanks
    Johnnyboy11
    • #4
    • 8th Jul 18, 4:38 PM
    • #4
    • 8th Jul 18, 4:38 PM
    Many thanks to you both, much appreciated. I did get a couple of big promotions in my new job (and associated pay rises), so benefitted in that regard. Thanks again.
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