If you leave your job before retirement and have not met the 2 years vesting period

Printer-friendly versionPrinter-friendly version
You will have three options:
 
  • you will normally be able to claim a refund of your contributions, less a deduction for tax and the cost, if any, of buying you back into the State Second Pension (S2P) in respect of your membership up to 5 April 2016 when the LGPS was contracted out of S2P. Interest is paid if the refund is not made within one year of leaving but no refund can be made if you rejoin the LGPS in England or Wales within a month and a day of leaving, or rejoin before the refund has been paid
 
  • you may be able to transfer your benefits to a new pension arrangement (providing you have been a member of the LGPS for at least 3 months)
 
  • you can delay your decision until you either re-join the LGPS, transfer your benefits to a new pension arrangement, or want to take a refund of contributions. Where you delay your decision you will have what is known as a deferred refund pension account.
 
Please note that the account can only be held in the Fund for a maximum of 5 years or until age 75, whichever is earlier. If you have not transferred your benefits to a new pension arrangement or rejoined the LGPS by that time a refund of contributions will automatically be payable to you.
 
If you have not met the 2 years vesting period when you leave but joined before 1 April 2014, please see the section If you joined the LGPS before 1 April 2014 for more information.