Client Portal Independent financial planning advice for teachers

Teachers Logo
  • Home
  • Advice
  • About Us
  • Seminars
  • News
  • Downloads
  • Contact
Email
Home/News/Teachers Pension/Changes To Transfers
loading...

Changes To Transfers

27/02/2015 Ged O'Neil Bell

Changes under the Pensions Schemes Bill, to come into force from April 2015, will stop transfers from unfunded public service pension schemes, such as the Teachers’ Pension Scheme (TPS), to pension schemes which allow flexible access to pension savings, whether in the UK or elsewhere.

However, the changes won’t stop members of the TPS who live abroad from accessing their UK public service pension. This means the scheme receiving a transfer from an unfunded public service pension scheme must be Defined Benefit.

In order for Teachers’ Pensions to process transfer requests to non-Defined Benefits schemes, members must ensure completed Discharge Form 350, and any other information requested by Teachers’ Pensions, are received by them no later than the 5th of April 2015. Please note, an original signature is required and email or fax copies will not be accepted.

There are substantial benefits from remaining in a public service pension scheme, which are supported by the State, including index-linked uprating, generous survivors and dependants benefits, and death and ill-health retirement provisions.

Further information on the Pension Schemes Bill is available at: www.gov.uk/government/collections/pension-schemes-bill-2014-to-2015

Share this article:

  • Click to share on Facebook (Opens in new window)
  • Click to share on Twitter (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • Click to share on WhatsApp (Opens in new window)
Posted under: Teachers Pension


Make an enquiry

Please complete and send the short contact form below and we will come back to you as soon as possible.

    First Name

    Telephone

    Email

    Enter code captcha

    Message
    ifa logo
    Apple App Store Google Play Store
    • Site Map
    • Cookies
    • Legal
    • Privacy
    • Careers
    • Facebook
    • Google
    • Twitter
    • LinkedIn

    Teachers Financial Planning Limited is an appointed representative of LJ Financial Planning Limited which is authorised and regulated by the Financial Conduct Authority. Financial Services Authority firm registration number 552276. Content on this website is provided for information purposes only and should not be considered advice. The information contained within this website is subject to the United Kingdom regulatory regime and is therefore primarily targeted to consumers in the United Kingdom. Registered in England & Wales 07612896. Registered Office: St James Business Centre, Wilderspool Causeway, Warrington, WA4 6PS. Calls to 08452 69 69 90 cost 5p [or 5p per minute] plus your phone company's access charge.

    © 2011-2020 Teachers Financial Planning Limited.
    Website designed and developed by Carpe Diem
    This website uses cookies to improve performance: Find out more.