6.2.1 Members who resign with 2 or more years’ qualifying service, or have transferred benefits into the CSP arrangements from a personal pension scheme or other non-occupational pension arrangement, will continue to have benefits in the CSP arrangements, unless they transfer them to another pension scheme.  The benefits are preserved until the member decides to claim them at or after scheme pension age and are increased in line with the rise in prices. The member may decide to claim their preserved benefits before scheme pension age but must meet certain criteria (see ‘Paying a preserved award early (paragraphs 6.2.10 and 6.2.11).

6.2.2 We use the term ‘deferred member’ for staff who leave with preserved benefits.

Published:
4 January 2022
Last updated:
4 January 2022