BGCM EC May 2017

 your new employer's tax-registered scheme (provided its trustees will accept the transfer value);



a tax-registered personal pension; or

 an approved policy with an insurance company which will provide a pension for you when you retire.

The pension that you subsequently receive will depend on the benefit structure of the receiving scheme or policy. Once the transfer has been made, neither you nor your Dependants will have any further rights under the Scheme.

Notes

If you have completed at least two years Pensionable Service and you wish to make a transfer, special rules require the Trustees to guarantee any transfer value quotation that they give you. Once you have left Pensionable Service, the Trustees will, on request, provide you with a guaranteed statement of your entitlement showing the current transfer value from the Scheme. This will be sent to you within three months of the request and the transfer value will be guaranteed for three months from the date of that statement. You are only entitled to one guaranteed statement of entitlement in any 12 month period, unless the Trustees decide otherwise. If within three months of receipt of the guaranteed statement of entitlement you apply for a transfer value to be paid to another arrangement, the amount shown on that statement will be paid within six months. If you have not opted out or left the GFTU's employment but you are thinking of doing so, you are also entitled to request one guaranteed estimate of a transfer value in any 12 month period. The Trustees may supply you with more than one guaranteed estimate in a 12 month period but they are not obliged to do so.

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