Transfers

You may be able to transfer your Scheme benefits into another pension arrangement, such as a new employer’s pension plan, a personal pension, a stakeholder pension plan or a buy-out contract.

Pension transfers have specific rules, and you need to take specialised financial advice if your transfer value exceeds £30,000.

To get a transfer value, use the live transfer value illustration tool on the member portal.

Then, if you’re seriously thinking of transferring out, request a formal transfer quote (You can request one formal quote a year. Additional requests will incur a fee).

If you would like a ‘Cash Equivalent Transfer Value’ (CETV) statement, please log in to the member portal.

For independent advice, you can consult MoneyHelper or find retirement advisers in your area at www.unbiased.co.uk.