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Can I choose to join the LGPS?

You can choose to join the LGPS at any time, whether you are an eligible jobholder or not. To be able to join the LGPS you need to be under age 75 and work for an employer that offers membership of the scheme.

You can find out more on our automatic enrolment page.

https://youtu.be/Zt_M17HwZtY

Transferring in

As a new member, or even if you are just moving between employers within the scheme, we need to know about any previous pensions you have had.

Once your employer has told us you have started working for them, we will send you a New Starter Pack, which will include a form to confirm if you have any previous LGPS pension rights either with Peninsula Pensions, or elsewhere. This should be returned to Peninsula Pensions as soon as possible. If you have other pension rights outside the LGPS, that you are interested in transferring, please contact your previous pension provider and request a transfer value. This should then be forwarded to Peninsula Pensions as soon as possible.

Please visit the Transferring in a previous pension pages on the LGPS website to for more details or get in touch with peninsula Pensions.

Transferring out

If anyone approaches you directly to offer transfer advice, be on your guard. The government has banned cold calling for pensions, so if anyone calls you out of the blue about yours, just hang up – it could be a scam. You can also visit the ScamSmart website to check the firm you are dealing with is regulated and to see whether what you’re being offered is a known scam or has the signs of a scam.

You cannot transfer out benefits while you are an active member of the LGPS, so if you are still paying in you will need to opt out of the scheme first.

You will then need to find a suitable arrangement to transfer your benefits to. Please ask your new provider to contact us for a transfer value and the appropriate forms.

If your transfer value is £30,000 or more, you must take independent financial advice before we are able to transfer out your benefits to a defined contribution scheme. You should also note that a request to transfer out must be made at least a year before your normal pension age (which is 65) or a year before your state pension age, which ever is sooner.

Please take time to read information set out by the Financial Conduct Authority (FCA) and The Pensions Regulator (TPR) to help you understand the value of a defined benefit (DB) pension and what to think about if you are considering transferring out of a DB pension scheme.

To understand the process of transferring out of the LGPS and the steps you must take, please visit the LGPS website.

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