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Public Pensions (Transferability)

Volume 448: debated on Monday 3 July 2006

To ask the Chancellor of the Duchy of Lancaster what measures the Government have put in place to assist pension transferability of public pensions for personnel working in Government Departments and agencies who are members of the Civil Service pension scheme. (79768)

All public service pension schemes pay cash equivalent transfer values to other pension schemes in respect of accrued rights in compliance with pensions law. Under the Fair Deal for Staff Pensions there is a requirement to transfer pension rights when employments are transferred to the private sector under public private partnerships/public finance initiatives and subsequent transfers for former public servants. Public service pension scheme members can also transfer accrued pension rights by way of the public sector transfer club. The club is a network of public and private-sector occupational pension schemes which makes it easier for employees who move between employers covered by separate participating schemes to transfer their accrued pension rights.