Not applicable, the LGPS (NI) is a defined benefit scheme.
More information can be found at: https://nilgosc.org.uk/pension-fund/funding-strategy/
No – All benefits under each individual category need to be transferred. The two categories of benefits in the LGPS (NI) are LGPS main scheme benefits and AVC benefits. Section 92 of the PSA NI 1993 states that all benefits in a particular category must be transferred on a transfer election. If a member has more than one deferred benefit or AVC fund they, therefore, have to transfer all the benefits in that category i.e. they can’t just transfer one deferred benefit or one AVC pot.
No. This is not available under the rules of the LGPS (NI).
We can provide a CETV calculation upon request in any 12 month period. Once we can confirm the type of scheme the member is transferring to, we will issue discharge forms.
The Government is currently considering if the judgment to equalise historic GMPs applies to all historic transfers made by all public service pension schemes (including the LGPS). Consequently, we need to wait for the Government’s decision before we can take any action.
In March 2021, the Government decided that full GMP indexation would be the permanent solution for public service pension schemes. This means that NILGOSC pays the full increases on GMPs where a member reaches their state pension age after 5 April 2016.