Strathclyde Pension Fund is only able to make cash equivalent transfer values payments when we are satisfied that a transfer has satisfied the Pensions Regulators' Guidance.

Members are only entitled to make one free request for a guaranteed transfer quotation from their LGPS administering authority in any 12 month period and, if they wish to proceed with a transfer, the election to proceed must be made at least 12 months before their Normal Pension Age (NPA) in the LGPS or, if they are a Pension Credit member, at least 12 months before their NPA.

The NPA for a member (regardless of whether they are active or deferred) will depend on when they were in the scheme. A summary of the NPAs for members of the LGPS in Scotland depending on when they were in the scheme is below:

"NPA for a post 31st March 2015 leaver in the LGPS in Scotland is equal to the member's State Pension Age (with a minimum of age 65), apart from members who are subject to the underpin (for whom the NPA is, in effect, 65)

NPA for a 1st December 2006 to 31st March 2015 leaver in the LGPS in Scotland is age 65

NPA for a pre 1st December 2006 leaver in the LGPS in Scotland is 65 unless the person was in the scheme pre 1 April 1998 in which case NPA is:

(i) in the case of a member who by his 60th birthday has a total period of membership of at least 25 years, that birthday; or

(ii) in the case of a member who first has such a total period of membership by a date after his 60th birthday but before his 65th birthday, the day after that date; or

(iii) in the case of a member who does not fall within paragraph (i) or (ii), his 65th birthday;"

For current contributing members, their NPA is their SPA and so they will need to make an election to transfer out at least one year before they attain their SPA in order to be able to transfer their benefits out (s95 of the Pension Schemes Act 1993)

If a member is already in receipt of a pension from another period of membership with the LGPS in Scotland, section 93 of the Pensions Schemes Act 1993 does not allow a CETV to be paid in respect of another period of membership. In addition, members can only transfer benefits from the LGPS Scotland if they have left the scheme and have not already drawn benefits from LGPS Scotland (either in their current employment or any earlier employment).

For deferred membership of the LGPS the transfer value is guaranteed for 3 months from the relevant date noted on the transfer calculation. Should the completed discharge form be returned out with the guarantee period it will be paid with the necessary adjustments at a relevant date equal to the date the discharge form is received in this office.

For active membership of the LGPS the transfer value is not guaranteed. Should the completed discharge form be returned prior to exiting the scheme it will be paid with the necessary adjustments at a relevant date equal to the day after the date the member leaves the scheme. If the completed discharge form is returned after the member has left the LGPS it will be paid with the necessary adjustments at a relevant date equal to the date the discharge form is received in this office.