- Pension transfers to non-club pension providers
- Transfers to Club pension providers
- A club transfer may not be more beneficial than non-club if
- Club employers
- Career average pension schemes
- Added pension
- Earnings cap
- Useful information
The Club means those who move between Club schemes can transfer their pension on special terms, so they will receive a similar amount of pension in their new scheme, regardless of any increase in salary.
The law requires pension schemes to offer a minimum ‘transfer value payment’, which must be equal in value to the benefits you’ve already built up when you move jobs. This is known as a ‘cash equivalent transfer value’. The scheme that receives the cash equivalent transfer value must then offer benefits of the equivalent value as the previous scheme. Transfers calculated on a Club basis will usually offer a higher value than those calculated on non-Club terms.