Pension Transfers to the NITPS
Dear UTU member
If you have been a member of a teachers’ pension scheme elsewhere in England & Wales, Scotland, Isle of Man or Channel Islands (“comparable teaching service”), your pension benefits will not be transferred automatically to the NITPS. If you wish to transfer in any such comparable service you must contact the NITPS to request a transfer before 31 March 2017.
Existing arrangements, whereby a member was able to transfer comparable teaching service to the NITPS at any time up to retirement will no longer apply. To facilitate members, a grace period is currently in place (up to 31 March 2017) for members to apply for a comparable pension benefit transfer between schemes.
An application form is available from:
The guidance notes on the back of the form state:
- Completing the attached forms does not commit you to transferring your previous pension credit into the NITPS. You will be notified of the number of years and days that may be credited to you once Teachers’ Pension Branch (TPB) has received a transfer calculation from your previous pension provider. At that point you will be required to tell TPB in writing if you want the transfer to go ahead or not;
- You should complete Part A and Part B of the form then send it TPB.
- TPB will then write to your previous scheme provider with your request to transfer.
Further information on the NITPS, including newsletters, factsheets and Frequently Asked Questions (FAQs), is available on the Department of Education website; overview-northern-ireland-teachers-pension-scheme
If you do not transfer the service then it will remain in the existing scheme - in other words when you retire you may have 2 different pensions - one from the NI scheme and another pension from (for example) the English pension scheme.
As this is technically a financial decision UTU is not able to advise formally on the decision to transfer your service - but you can access financial advice through the Platinum Financial/INTO/UTU pre-retirement seminars. Full details available on the UTU website.
I hope this information is helpful.