If you transfer LGPS benefits protected by the underpin to another public service pension scheme, they will generally gain the protection offered by the new scheme. This means that you would no longer have underpin protection. Instead, you would have a choice between a career average pension and a final salary pension for the relevant benefits. Benefits in the LGPS are protected if they were built up in the remedy period – 1 April 2014 to 31 March 2022. In the other public service pension schemes, the remedy period started later on 1 April 2015, but ends on the same date – 31 March 2022.
If you transfer LGPS benefits protected by the underpin to another public service pension scheme after a disqualifying gap, you would lose the protection.
Your new pension administrator will send you information about your options and how your pension would be affected by the transfer. Make sure you read these details carefully before making a final decision about a transfer.
If you have already transferred LGPS benefits to another public service pension scheme, you will not lose out. Your previous LGPS pension fund will give the other scheme the information they need to operate the protection in their scheme. This will be a complicated process which may take some time.