Skip to content

Transferring or aggregating my previous pension

Bringing your pensions together

It is possible to transfer in various types of previous pensions into the LGPS and to combine together more than one pension that you hold with us. Take a look below for the steps you’ll need to follow, plus some important information to help you choose the best option.

Important: Transferring in or aggregating your pension benefits may or may not be in your best interests - it is not simply a matter of consolidating for simplicity. If you are unsure which is the best option for you, we recommend that you speak with a financial adviser.

 

Possible transfers in and aggregations:

 Aggregation of LGPS benefits in our Fund:
We sometimes refer to this as an 'internal aggregation'. More detailed information, visit our dedicated internal aggregations page.

  Combining LGPS benefits held in another Fund: 
We refer to this as an 'interfund aggregation'.

 Club transfers:
The Club is a network of public sector pension schemes which have agreed to pay and receive transfers on the same basis. This means the transfer will provide membership credits of roughly equal lengths when you transfer between them.

 Non-Club transfers:
All non-public section pensions. These are calculated on a transfer value basis and will buy an amount of annual pension in our scheme, which we will revalue each year in line with inflation. 

 

Note: A non-Club basis will also sometimes apply for Club transfers, where the transfer occurs outside of the permitted time limits.

 

For more details on any of the above, simply click the relevant box below:

If you leave an employment and later re-join the LGPS, or remain in the LGPS through a different job, you will need to decide what you want to happen with the pension benefits you built up previously.

 

Aggregation in the LGPS

Aggregation refers to the process of merging your previous LGPS pension rights, held in pension funds across England and Wales, into your current pension account that you’re currently contributing to. In some cases this will happen automatically, whilst in other cases it is election-based.

If your previous LGPS pension rights are with funds in Scotland or Northern Ireland, this will be considered a Club Transfer. Additional details can be found in the Club Transfer section.

 

Automatic or election-based?

  • If you left the LGPS on or after 1 April 2014, your pension records will be combined automatically unless you opt to keep them separate.

  • If you left the LGPS before 1 April 2014, your records will remain separate unless you opt to combine them by making an election.

 

Key Considerations

The process of combining your benefits - and the steps you need to take - depends on when you left the LGPS, and as outlined above, and whether you have had a gap of over five years in active membership with a public service pension scheme. 

We refer to these different scenarios on a coding system - the position is the same as for internal aggregations and more information can be found on our internal aggregations page.

 

Required Actions

  • If you are confident in identifying the relevant sections and agree with the default options, there’s no action required. However, if you make a positive election for the default, this enables us to process the aggregation quicker as we don't need to wait for 12 months to pass.

  • If you disagree with the default options or need more information to make an informed decision, feel free to contact us on pensions@gloucestershire.gov.uk.

Important: If you want to make an election which is against the default, you only have 12 months to do so. 

Note: If you opted out of the LGPS on or after 11 April 2015 and are entitled to deferred benefits, these cannot be merged with your current active pension account. Instead, you will hold two separate sets of pension benefits within the scheme.

 

Timeline for Combining Pension Records

The process may take some time, particularly if your prior membership involves a different local authority and if you have not made a positive election.  For any concerns or inquiries, please get in touch with us.

If you leave an employment and later re-join the LGPS, or remain in the LGPS through a different job, you will need to decide what you want to happen with the pension benefits you built up previously.

 

Aggregation in the LGPS

Aggregation refers to the process of merging your previous LGPS pension rights, held in pension funds across England and Wales, into your current pension account that you’re currently contributing to. In some cases this will happen automatically, whilst in other cases it is election-based.

If your previous LGPS pension rights are with funds in Scotland or Northern Ireland, this will be considered a Club Transfer. Additional details can be found in the Club Transfer section.

 

Automatic or election-based?

  • If you left the LGPS on or after 1 April 2014, your pension records will be combined automatically unless you opt to keep them separate.

  • If you left the LGPS before 1 April 2014, your records will remain separate unless you opt to combine them by making an election.

 

Key Considerations

The process of combining your benefits - and the steps you need to take - depends on when you left the LGPS, and as outlined above, and whether you have had a gap of over five years in active membership with a public service pension scheme. 

We refer to these different scenarios on a coding system - the position is the same as for internal aggregations and more information can be found on our internal aggregations page.

 

Required Actions

  • If you are confident in identifying the relevant sections and agree with the default options, there’s no action required. However, if you make a positive election for the default, this enables us to process the aggregation quicker as we don't need to wait for 12 months to pass.

  • If you disagree with the default options or need more information to make an informed decision, feel free to contact us on pensions@gloucestershire.gov.uk.

Important: If you want to make an election which is against the default, you only have 12 months to do so. 

Note: If you opted out of the LGPS on or after 11 April 2015 and are entitled to deferred benefits, these cannot be merged with your current active pension account. Instead, you will hold two separate sets of pension benefits within the scheme.

 

Timeline for Combining Pension Records

The process may take some time, particularly if your prior membership involves a different local authority and if you have not made a positive election.  For any concerns or inquiries, please get in touch with us.

The Club is a network of public sector pension schemes which have agreed to pay and receive transfers on the same basis. This means the transfer will provide membership credits of roughly equal lengths when you transfer between them. 

Public Service Transfer Club pension schemes

  • The Armed Forces
  • Civil servants
  • Fire and Rescue Workers
  • The Judiciary
  • The LGPS in England, Wales, Scotland and Northern Ireland.
  • National Health Service (NHS)
  • The Police Force
  • Teachers

If you transfer in a pension which is either partly or wholly calculated on a final salary basis, the final salary link will continue within your new employment as long as you don't have a gap of 5 years between periods of public service. 

Note: Club transfers may not apply if you elect to transfer a year after joining the Fund, unless your employer allows you to do so.

For more information about Club transfers, please contact us at pensions@gloucestershire.gov.uk.

The Club is a network of public sector pension schemes which have agreed to pay and receive transfers on the same basis. This means the transfer will provide membership credits of roughly equal lengths when you transfer between them. 

Public Service Transfer Club pension schemes

  • The Armed Forces
  • Civil servants
  • Fire and Rescue Workers
  • The Judiciary
  • The LGPS in England, Wales, Scotland and Northern Ireland.
  • National Health Service (NHS)
  • The Police Force
  • Teachers

If you transfer in a pension which is either partly or wholly calculated on a final salary basis, the final salary link will continue within your new employment as long as you don't have a gap of 5 years between periods of public service. 

Note: Club transfers may not apply if you elect to transfer a year after joining the Fund, unless your employer allows you to do so.

For more information about Club transfers, please contact us at pensions@gloucestershire.gov.uk.

All non-public service pension scheme transfers are calculated on a transfer value and will buy an amount of annual pension which will be revalued each year in line with inflation. In some cases, non-Club transfers also apply to public service pension scheme transfers too.

What can I transfer?

  • a previous employer's pension scheme
  • a self employed pension plan
  • a pension 'buy-out' policy
  • a personal pension plan
  • a stakeholder pension scheme
  • an Additional Voluntary Contribution (AVC) arrangement

Transferring your pension rights is not always an easy decision to make, and it may or may not be in your financial interests. Therefore, you may wish to seek the help of an independent financial adviser.

All non-public service pension scheme transfers are calculated on a transfer value and will buy an amount of annual pension which will be revalued each year in line with inflation. In some cases, non-Club transfers also apply to public service pension scheme transfers too.

What can I transfer?

  • a previous employer's pension scheme
  • a self employed pension plan
  • a pension 'buy-out' policy
  • a personal pension plan
  • a stakeholder pension scheme
  • an Additional Voluntary Contribution (AVC) arrangement

Transferring your pension rights is not always an easy decision to make, and it may or may not be in your financial interests. Therefore, you may wish to seek the help of an independent financial adviser.

You have only 12 months from joining the LGPS to opt to transfer your previous pension rights, unless your employer allows you longer.

You should have received a form in your welcome pack which you need to complete and send to us.

If you didn't, you can use this Pension starter and service history form .

You have only 12 months from joining the LGPS to opt to transfer your previous pension rights, unless your employer allows you longer.

You should have received a form in your welcome pack which you need to complete and send to us.

If you didn't, you can use this Pension starter and service history form .