I have underpin protection and I transfer my pension from another public service pension scheme into the LGPS (NI)?
Transfer into the LGPS (NI) before 1 October 2023 – the McCloud Remedy applies to all public service pension schemes. Pension benefits that originally had protection in another scheme will continue to be protected in the LGPS (NI), provided you did not have a disqualifying break. A disqualifying break is a continuous period of more […]
I transfer my pension out from the LGPS (NI) and have underpin protection?
If you are transferring to another public service pension scheme, the scheme that you are transferring to will generally give you protection in their scheme. This will likely not be an underpin as this is unique to the Local Government Pension Schemes. Instead, you are given a choice between a career average pension and a […]
I flexibly retire and have underpin protection?
On flexible retirement you can choose whether to take all or some of the pension you have built up. The underpin check is carried out when you flexibly retire, and if your pension increases, a proportion of the increase will be paid to match the proportion of benefits that you are taking that were built […]
I retire on ill-health and have underpin protections?
Retired before 1 October 2023 – If you retired on ill-health from deferred membership and are protected, NILGOSC will review the pension that you are being paid. If the pension you would have built up between 1 April 2015 and 31 March 2022 in the final salary scheme would have been higher than in the […]
I am a pensioner with underpin protection?
Took your pension before 1 October 2023 – NILGOSC will review the pension that you are being paid. If the pension you would have built up between 1 April 2015 and 31 March 2022 in the final salary scheme would have been higher than in the career average scheme, then your pension will be increased. NILGOSC […]
I am an active member with underpin protection?
You do not need to do anything. When you take your pension, NILGOSC will compare the pension that you have built up from 1 April 2015 to 31 March 2022 in the career average scheme with the pension you could have built up had the final salary scheme continued. If the final salary pension would […]
If you have pension rights in another public service pension scheme where Club Transfer rules apply
Providing you have not had a break of more than five years between leaving another public service pension scheme and joining the Scheme and the election to transfer is made within 12 months of joining the Scheme, the transfer may be dealt with under Club Transfer rules. The amount of extra pension which is added […]
If you have pension rights in a non-LGPS arrangement
If you have paid into another pension scheme you may be able to transfer these benefits into the Scheme. The other pension scheme must be another registered pension scheme or from a European pensions institution. You have only 12 months from joining the Scheme to elect to transfer your previous pension rights or such longer […]
Will there be a cost to my employer?
There may be a cost to your employer depending on a number of factors: Your age at the date of retirement. In the event of redundancy, although you are retiring early, you are entitled to the immediate and unreduced payment of your Scheme benefits. Your employer will be required to pay to the Scheme any […]