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Document What is the process when transferring benefits out of the NHS Pension Scheme?

If you would like to transfer your pension benefits to another pension scheme you should obtain the relevant transfer out application pack from the website.
 
There are two application packs depending on whether the receiving scheme is within the United Kingdom or Overseas.
 
Please note before we can provide an estimate of the Cash Equivalent Transfer Value (CETV) we may need to request details of your pay from your NHS employer(s) and or request the Guaranteed Minimum Pension (GMP) amount from HM Revenue & Customs (HMRC).

Transfer out to another NHS Pension Scheme
 
If you are transferring out to another NHS Pension Scheme (for example NHS Scotland) you are not required to complete a transfer out application form. Please contact the scheme you are transferring to who will advise how to complete the transfer.

UK transfer application pack
  • Defined benefit schemes and schemes that participate in the Public Sector Transfer Club: You will only be able to transfer if the receiving scheme is registered with HMRC as a registered pension scheme.
     
  • Defined Contribution Schemes:  From 6 April 2015 the Pensions Act 2015 restricts transfers out of unfunded defined benefit public service pension schemes like the NHS Pension Scheme. You will only be able to transfer to a scheme that provides flexible benefits if you have less than two years qualifying membership, in addition the receiving scheme must be registered with HMRC as a registered pension scheme.
 
Overseas transfer application pack
  • Defined benefit schemes and schemes that participate in the Public Sector Transfer Club: You will only be able to transfer if the receiving scheme is registered with HMRC as a Qualifying Recognised Overseas Pension Scheme (QROPS).
     
  • Defined Contribution Schemes: From 6 April 2015 the Pensions Act 2015 restricts transfers out of unfunded defined benefit public service pension schemes like the NHS Pension Scheme.  You will only be able to transfer to a scheme that provides flexible benefits if you have less than two years qualifying membership, in addition the receiving scheme must be registered with HMRC as a QROPS.
You can view the QROPS list on HMRC's website, however, please note NHS Pensions may complete additional checks to confirm the scheme meets the requirements of the Pensions Act 2015, and/or the requirements to be a QROPS before any payment can be made. Further information can be found in the Overseas Transfers Out Guide and application pack.

If you have left the Scheme

We will also issue the TV18 option forms and any other forms requiring completion. The TV18 form issued will be appropriate to the scheme you are transferring to.

Once the TV18 and any other forms required are returned, payment can be made. This must be sent to NHS Pensions by post and cannot be accepted by email / fax.

We will issue payment for the transfer value with a covering letter to your new pension provider.

Where charges may apply

When a second CETV is necessary, you may be charged for this, please visit our website for more information about requesting a chargeable CETV.

Payment of transfer

We aim to make the transfer payment to your new pension provider within 30 working days of receiving your request, however, we may need further information before payment can be made. If this is the case the payment should be made before the statutory target of six months. We will issue payment for the transfer value with a covering letter to your new pension provider.
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transfer out, transferring out, tv out, transfer, transfers, overseas
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