Transfers in
Contents
What happens after TPB receives the information from my previous pension provider?
If you recently joined the NITPS and have benefits in another pension scheme, it may be possible to transfer those benefits into the NITPS. This leaflet sets out what you need to do to achieve that.
You must be under Normal Pension Age (NPA) (60 for members prior to 1 April 2007 and 65 for those who entered pensionable service after 1 April 2007).
You must apply to transfer your benefits within 12 months of entering pensionable employment, but you may transfer teaching service from Scotland and England and Wales at any time before NPA.
It is not possible to transfer in if you are in receipt of a pension from the NITPS.
What will I receive?
Your previous pension provider will calculate the value of your pension with them and then inform Teachers’Pensions (TP) of that amount.
TP will calculate the service credit in days and years that this will buy in the NITPS.
The calculation uses factors such as your age, current salary and whether or not your previous service was in a public sector scheme (these are known as club schemes).
The service credit you transfer in will count towards both personal and dependant benefits. Your marital status does not affect this.
Transferring more than one pension benefit
- You can transfer service from more than one previous scheme.
- You and each provider will need to complete the transfer form.
- Each transfer is treated separately.
You should write to TP requesting a transfer in.
TP will then issue you with a form on which you will give us your authority to approach your previous scheme provider.
TP will then write to your previous scheme provider with your request to transfer.
What happens after TP receives the information from my previous pension provider?
When all the relevant transfer information is received, TP will calculate your potential service credit in the NITPS.
TP will tell you how much service the transfer value will buy.
You will then have to decide if you want the transfer to take place.
If you decide not to go ahead or do not make a decision, the transfer will not proceed. It may not be possible to reopen the transfer later.
Please note transfers between pension schemes can be a lengthy process as information often has to be obtained from a number of third parties. TP will keep you informed of the progress of your transfer.
