{"id":248,"date":"2018-07-12T08:46:34","date_gmt":"2018-07-12T08:46:34","guid":{"rendered":"http:\/\/pensions.cardiffcouncilwebteam.co.uk\/?page_id=248"},"modified":"2020-01-31T11:59:32","modified_gmt":"2020-01-31T11:59:32","slug":"leaving-the-scheme","status":"publish","type":"page","link":"https:\/\/www.cardiffandvalepensionfund.org.uk\/members\/leaving-the-scheme\/","title":{"rendered":"Leaving the Scheme"},"content":{"rendered":"<div class=\"wpb-content-wrapper\"><p>[vc_row bottom_padding=&#8221;45&#8243;][vc_column width=&#8221;1\/1&#8243;][vc_column_text]<\/p>\n<h1>Leaving the Scheme<\/h1>\n<p>[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column width=&#8221;2\/3&#8243;]<div class=\"video-embed  wpb_content_element\"><iframe loading=\"lazy\" title=\"Pensions made simple: 2. How your pension works\" src=\"https:\/\/player.vimeo.com\/video\/371919241?dnt=1&amp;app_id=122963\" width=\"1161\" height=\"653\" frameborder=\"0\" allow=\"autoplay; fullscreen; picture-in-picture; clipboard-write\"><\/iframe><\/div>[vc_column_text]If you are a member of the Local Government Pension Scheme (LGPS) and leave your job, or if you choose to opt out of the pension scheme before retirement, there are several options available to you.<\/p>\n<p>If you have <strong>less than 2 years<\/strong> total membership, no previous LGPS pension rights and have not transferred previous pension rights into the scheme, you can:<\/p>\n<ul>\n<li>Receive a refund of your contributions, less any deductions for tax and the cost of re-instating you into the State Second Pension (S2P)<\/li>\n<li>Transfer your benefits into a new arrangement, such as your new Employer\u2019s scheme, or a personal pension arrangement<\/li>\n<\/ul>\n<p>If you have <strong>more than 2 years<\/strong> total membership, or have transferred previous pension rights into the scheme, you can:<\/p>\n<ul>\n<li>Leave your benefits within the Fund until you retire &#8211; this is known as a Deferred Benefit<\/li>\n<li>Transfer your benefits into a new arrangement, such as your new Employer\u2019s scheme, or a personal pension arrangement<\/li>\n<\/ul>\n<p>If you would like more information about the options available to you as a deferred member, please visit the <a href=\"https:\/\/www.cardiffandvalepensionfund.org.uk\/already-left\/\">Deferred section <\/a>of this website.<\/p>\n<p>If you wish to opt out of the LGPS, you will need to complete an <a href=\"https:\/\/www.cardiffandvalepensionfund.org.uk\/wp-content\/uploads\/opt-out-form.pdf\">opt out form<\/a> (PDF) <i class=\"fa fa-file-pdf-o\" aria-hidden=\"true\"><\/i> and return it to your Employer.[\/vc_column_text][vc_column_text][\/vc_column_text]<div class=\"spacer\" style=\"height: 40px;\"><\/div>[\/vc_column][vc_column el_class=&#8221;siderow&#8221; width=&#8221;1\/3&#8243;][vc_column_text el_class=&#8221;boxblue&#8221;]<\/p>\n<h3>Money Advice Service<\/h3>\n<p>An impartial service, set up by the Government to give free and unbiased advice.\u00a0 You&#8217;ll find some great budget planners and other tools.<\/p>\n<p><a href=\"https:\/\/www.moneyadviceservice.org.uk\/en\" target=\"_blank\" rel=\"noopener noreferrer\">Money Advice Service <i class=\"fa fa-external-link\"><\/i><\/a>[\/vc_column_text][vc_column_text el_class=&#8221;boxblue&#8221;]<\/p>\n<h3>State Pension<\/h3>\n<p>Find out if you are eligible to a State Pension, what you&#8217;ll get and how its calculated, plus lots more information.<\/p>\n<p><a href=\"https:\/\/www.gov.uk\/new-state-pension\" target=\"_blank\" rel=\"noopener noreferrer\">New State Pension <i class=\"fa fa-external-link\" aria-hidden=\"true\"><\/i><\/a>[\/vc_column_text][vc_column_text el_class=&#8221;boxblue&#8221;]<\/p>\n<h3>Opting out?<\/h3>\n<p>Things to think about when thinking about opting out of the scheme.<\/p>\n<p><a href=\"https:\/\/lgpsmember.org\/tol\/thinking-leaving-opt.php\" target=\"_blank\" rel=\"noopener noreferrer\">LGPS website <i class=\"fa fa-external-link\" aria-hidden=\"true\"><\/i><br \/>\n<\/a>[\/vc_column_text][vc_column_text el_class=&#8221;boxred&#8221;]<\/p>\n<h3>Got a question?<\/h3>\n<p><a href=\"\/get-in-touch\/\">Get in touch<\/a> with us.[\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>[vc_row bottom_padding=&#8221;45&#8243;][vc_column width=&#8221;1\/1&#8243;][vc_column_text] Leaving the Scheme [\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column width=&#8221;2\/3&#8243;][vc_column_text]If you are a member of the Local Government Pension Scheme (LGPS) and leave your job, or if you choose to opt out of the pension scheme before retirement, there are several options available to you. If you have less than 2 years total membership, no previous LGPS pension rights and have not transferred previous pension rights into the scheme, you can: Receive a refund of your contributions, less any deductions for tax and the cost of re-instating you into the State Second Pension (S2P) Transfer your benefits into a new arrangement, such as your new Employer\u2019s scheme, or a personal pension arrangement If you have more than 2 years total membership, or have transferred previous pension rights into the scheme, you can: Leave your benefits within the Fund until you retire &#8211; this is known as a Deferred Benefit Transfer your benefits into a new arrangement, such as your new Employer\u2019s scheme, or a personal pension arrangement If you would like more information about the options available to you as a deferred member, please visit the Deferred section of this website. If you wish to opt out of the LGPS, you will [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":131,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Leaving the Scheme - Cardiff and Vale Pension Fund<\/title>\n<meta name=\"description\" content=\"There are several options available to you should you want to leave the scheme.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.cardiffandvalepensionfund.org.uk\/members\/leaving-the-scheme\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Leaving the Scheme - Cardiff and Vale Pension Fund\" \/>\n<meta property=\"og:description\" content=\"There are several options available to you should you want to leave the scheme.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.cardiffandvalepensionfund.org.uk\/members\/leaving-the-scheme\/\" \/>\n<meta property=\"og:site_name\" content=\"Cardiff and Vale Pension Fund\" \/>\n<meta property=\"article:modified_time\" content=\"2020-01-31T11:59:32+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.cardiffandvalepensionfund.org.uk\/members\/leaving-the-scheme\/\",\"url\":\"https:\/\/www.cardiffandvalepensionfund.org.uk\/members\/leaving-the-scheme\/\",\"name\":\"Leaving the Scheme - 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