WHAT IS MY POSITION IF I
DO NOT HAVE AN ENTITLEMENT TO
PRESERVED BENEFITS.......
13
WHAT HAPPENS TO THE
WIDOWER'S, INVALIDITY
OR DEPENDANTS' PENSION
FOR WHICH I HAVE
CONTRIBUTED
VOLUNTARILY?.
14
WHAT HAPPENS TO THE
TRANSFER VALUE IN MY NEW SCHEME OF IN A
SECTION 32 POLICY?........................................
15
IS IT TO MY ADVANTAGE
TO HAVE MY BENEFITS
TRANSFERRED?..............
15
Club transfer.......
17
Non Club transfer..
18
TRANSFER FROM
THE PCSPS ON
LEAVING THE SCHEME
OPTING OUT OF THE PCSPS
IF I OPT OUT OF THE PCSPS CAN I TRANSFER MY PCSPS BENEFITS?..
WHAT IF I LATER REJOIN
THE PCSPS?.............
21
22
.....
22
CAN I GET FURTHER
INFORMATION?.
23
TIME LIMITS...........
24
OTHER TITLES IN SERIES
inside
back
cover
2
INTRODUCTION
General
This booklet has been written as a short guide to your option on transferring your pension rights out of the Principal Civil Service Pension Scheme (PCSPS).
Care has been taken to ensure that it is accurate but nothing can override the rules of the scheme. These are reproduced in the Pay and Conditions of Service Code, a copy of which is held by the superannuation branch of your department. If you are in any doubt about how the rules affect you, go there for guidance.
In this booklet the term "scheme" includes an occupational pension scheme, a personal pension scheme and a self- employed pension arrangement. A general reference to a scheme means any of the above unless otherwise qualified. A reference to your new scheme should be read as whichever of the above is appropriate to you.
Arrangements exist for the transfer of benefits into the PCSPS. These are described in the booklet "Transferring Your Pension Rights into the Principal Civil Service Pension Scheme".
Your choices on changing jobs
If you change jobs on or after 1 January 1986, you will have a choice about what to do with any pension benefits that you have accrued in the PCSPS. If the conditions set out in the PCSPS are fulfilled, the choice is between:
-leaving the benefits that you have
earned in the PCSPS to be preserved for payment at the retiring age, if you have the necessary qualifying service,
3