If you leave with less than two years' reckonable service you will not qualify for a preserved pension. Payment will be made in order that the Department for Work and Pensions can count this period towards your future State Pension entitlement.
Members who do not wish to transfer to another scheme need to claim a refund of contributions that they have paid (which will be subject to tax and a premium to buy them back into the State Second Pension).
Members with at least two years' reckonable service will have their pension and lump sum preserved in the scheme.
The preserved benefits are increased each year in line with the Consumer Price Index (CPI).
When you leave we will send you confirmation of your deferred or preserved pension and you will have the option of transferring the pension to another provider. Your latest Annual Benefit Statement will tell you what your pension benefits are.
If you have left employment and not heard from us within four weeks, please contact us.
© JSS 2017
Last updated: 27 Mar 2017