Teachers' Pensions
Transfer News Update
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Transfer News Update

Further legislation preventing the transfer-out of benefits from unfunded DB schemes to DC schemes comes into effect from 7 September.

We’d like to make members aware of the following steps they’ll need to take if they wish to discharge their benefits from the Teachers’ Pensions Scheme to a DC scheme administered in the EEA (excluding UK).

  • If you have not previously received a guaranteed statement of entitlement (referred to as a GTV) you must complete a new application to request a transfer.

    Please note that any information gathering that is required to provide you with a GTV may take some time and in all likelihood we’ll not be able to provide you with a GTV before 7 September.

  • If you received a GTV before 6 April but did not submit the discharge application papers (Form 350), we’ll require a new application as the guarantee period has expired.

  • If you received a GTV before 6 April AND submitted the discharge application papers on or after 7 April (and which, at the time, were rejected), please inform us in writing if you wish to proceed with the transfer. We’ll then resend the Form 350 which must be completed, signed and resubmitted along with the receiving scheme’s new (Q)ROPS certificate before 7 September 2015.

  • Only original forms will be accepted, no photocopies or faxes.

  • We’ll accept discharge applications received in the post up to the close of business on Monday, 7 September 2015.

Last Updated: 29/08/2018 13:49

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