Understanding Transfers Out

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About this event

This course is aimed at administering authority staff in England and Wales who deal with, or need to learn about Club and non-Club transfers out of the LGPS. Some experience of administering the LGPS is desirable, especially the calculation of member benefits in both the Final Salary and CARE Scheme.

The course is based on the scheme rules for the LGPS in England and Wales. It is not suitable for Scottish administering authorities. It is not likely to be of interest to Scheme employers.

The course includes the changes introduced by the Occupational and Personal Pension Schemes (Conditions for Transfers) Regulations 2021 and McCloud Underpin Protections.

Course content

Information, examples and practical exercises on:

  • Overriding provisions and deadlines for transfers out
  • Public Sector Transfer Club
  • Normal Pension Age
  • The 85 year rule
  • Calculation Methodology including McCloud underpin protections
  • GMP considerations
  • Intermediate Normal Pension Ages and Interpolation
  • Contracted in and previously Contracted Out schemes
  • Conditions for transfers checks (from 30 November 2021)
  • Transferring Overseas
  • Pension Liberation
  • Declaration and discharge forms
  • Freedom and Choice
  • Bulk Transfers (a brief overview)
  • CEVs for Pension Sharing on Divorce (PSoD) (A brief insight into procedure and methodologies).

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