Leaving Options
Actual service |
|
Summary of options on leaving the Scheme |
Under 3 months without any Transferred
Service |
3 or more months or any Transferred Service |
|
Refund |
YES |
NO |
|
Transfer
|
YES
|
YES
|
|
Preserved Benefits
|
NO
|
YES
|
However, if you joined the LGPS before 1 April 2004, leave before the 1
April 2006 and at the date of your leaving you have more than 3 months but
less than 2 years membership you can elect for:
(i) preserved benefits (which can be transferred out), or
(ii) a refund of your contributions in lieu of the preserved
benefits,
Full details of the above options will be sent to you by the Avon
Pension Fund.
If you
have less than three months' Actual Service,
you can instead choose
to leave your contributions in the LGPS in order to take a
transfer to another pension scheme at a future date.
If you do not
ask the Pension Department to hold your contributions, a refund
will be made automatically one year after you leave the Scheme.
If you opt out of
the LGPS while remaining in employment with a Scheme employer,
you will be entitled to the same range of options described in
this section, apart from certain restrictions on transfers.
A period of
notice applies if you want to opt out. The effective date would
normally be the end of the pay period following receipt of
notification
|