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For members of the Local Government Pension Scheme in England and Wales

The transfer process

The Government has introduced new rules on pension transfers in recent years. These rules are there to protect scheme members when they are thinking about transferring their pension.

You may have to take independent financial advice before you can transfer out of the LGPS. If you transfer to a defined contribution scheme, you would lose the guarantees that you have in the LGPS. Taking advice from a qualified financial adviser will make sure you understand the effect that transferring out of the LGPS could have on your income in later life.

Your pension fund must take reasonable steps to stop you losing your pension savings to a scam. They may need to ask you for information about the transfer to check whether there is any sign of a scam. You can also reduce the risk of becoming a victim of a pension scam by finding out more about pension scams and how to spot them.

The basic transfer out process is set out below. We have provided this as a general guide only. Some steps will not be necessary if you are transferring to a ‘safe’ scheme such as another public service pension scheme. Your pension fund may need to take extra steps to find out more about the scheme receiving the transfer to assess whether you are at risk of a pension scam.

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