Am I able to transfer a pension into/out of FPS?
Transfer of Pension Rights out of the FPS
If you leave the FPS with three or more months' service but not being eligible for immediate payment of a pension because you are not old enough, nor retiring on grounds of ill health, as an alternative to a deferred pension you could request that your pension rights should be transferred to some other pension arrangement. A transfer value, a sum representing the capital value of your pension rights, would be assessed in accordance with guidance provided by the Government Actuary and offered to the managers of your new pension scheme. The transfer would take place if you so instruct.
Transfer of Pension Rights within the FPS
If you leave your employment with your current fire and rescue authority and transfer to further employment as a firefighter with another authority, provided there is no break in service between employments, you would remain a member of the FPS. Your pension rights will normally transfer with you and a transfer value payment is made for any transfer either from or to a Scottish FRA. The authority you leave would simply send a statement of your pension entitlement to your new authority. Due to the financing system introduced in England payments for transfers between English FRAs are no longer made. You may leave employment with your current fire and rescue authority to transfer to another authority where you remain a member of the NFPS. If the new employment is at a lower rate of pay, the split pensions option (see scheme guidance) would be available to you. Your pension rights normally transfer with you and a transfer value payment is made for any transfer either from or to a Scottish FRA.