Information for members of the LGPS and those with police, firefighter, teacher and NHS pensions

What if I leave or opt out before normal pension age?

What happens if you leave or opt out of the 2015 scheme.

Opting out

You can choose to opt out at any time by completing an opt out form and sending it to your payroll department.

Your decision to opt out is effective from the date your notice is received by your payroll department and your pensionable service in the scheme will end on the first day of the following pay period.

If you opt out of the scheme before you have transferred benefits from another pension arrangement or have been a scheme member for at least three months, you will be treated as never having joined the scheme and any contributions you may have paid will be returned to you in the next available payroll.

Leaving employment

If you leave or opt out of the scheme after a transfer of benefits from another scheme or three months' scheme membership and you have not reached your normal pension age (60), your benefits will be deferred. These deferred benefits will be revalued each year in line with the Consumer Prices Index (CPI). We will send you a statement each year outlining the current value of your benefits.

Drawing your benefits

If you are no longer employed by a Fire & Rescue Authority in England you can draw your benefits without reductions applying from deferred pension age. Deferred pension age is the later of State Pension age and age 65.

We will contact you before your deferred pension age to confirm the benefits due to you but you can request payment before this date by contacting the Pensions team. If you choose to draw your retirement benefits before you reach your deferred pension age, they will be reduce to reflect the early payment of these benefits.

Transferring your benefits

You can exercise the option to transfer your benefits to another pension scheme at any time up to one year before your state pension age of 60. If you keep your benefits deferred in the FPS 2015 your deferred pension will be increased each year by the cost of living as measured by the Pensions Increase (Review) Orders and we will send you an annual statement so you know the value of your benefits.

There are restrictions on the types of pension arrangement that you can transfer your benefits to so, please contact Pensions team if you wish to transfer your benefits to another pension scheme.

Last updated:
10 July 2018

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