• Skip to primary navigation
  • Skip to main content
  • Skip to footer

City and County of Swansea Pension Fund

Search

  • Home
    • Introduction
    • Member Self Service – My Pension on-line
    • Links
    • Disclaimer
    • Contact Us
  • Current Employees
    • Joining the LGPS
      • How much will it cost?
      • Transferring Previous Pension Benefits
    • During Membership
      • Additional Voluntary Contributions (AVCs)
      • Absence from work
      • Divorce/Dissolution of Civil Partnership
      • 50/50 Section
      • Protecting Pension Benefits
      • Increasing Benefits with Additional Pension Contributions
    • Membership before 1 April 2014
    • Leaving the Scheme
      • Options
      • Freedom and Choice
    • Retirement
      • When can I retire?
      • Calculating Your Benefits
      • Commutation
      • Normal Retirement
      • Early Retirement
      • Late Retirement
      • Ill Health Retirement
      • Redundancy/Efficiency
      • Flexible Retirement
      • Members – A Guide to your retirement from the Local Government Pension Scheme (LGPS)
    • Death in Service
      • Death Grant
      • Survivor Benefits
      • Children’s Pensions – Death in Service
    • Protecting Pension Benefits
    • Internal Disputes Resolution Procedure (IDRP)
    • Member guide – A short guide to the Local Government Pension Scheme (LGPS)
    • Forms and Literature
  • Deferred Members
    • Membership before 1 April 2014
    • Left on or after 1 April 2014
    • Transferring your Benefits
    • Ill Health
    • Death in Deferment
      • Death Grant
      • Survivor Benefits
      • Children’s Pensions – Deferred
    • Change of Address
    • Internal Disputes Resolution Procedure (IDRP)
    • Member guide – A short guide to the Local Government Pension Scheme (LGPS)
    • A Guide to your retirement from the Local Government Pension Scheme (LGPS)
    • Forms and Literature
  • Pensioners
    • How do I retire?
    • Payment of Pension
    • Income Tax
    • Payment Dates
    • Pensions Increase
      • Pensions Increase and the link with the State Scheme
    • Change of Address or Bank Details
    • Death in Retirement
      • Death Grant
      • Survivor Benefits
      • Children’s Pensions – Pensioners
    • Tracing Previous Pension Rights
    • The State Pension
    • Internal Disputes Resolution Procedure (IDRP)
    • Forms and Literature
  • Councillors
    • Joining the Scheme
      • How much will it cost?
      • Transferring previous Pension Benefits
    • Leaving the Scheme
      • Refund of Contributions
      • Deferred Benefits
      • Transferring your Benefits
    • Retirement
      • Calculating your Benefits
      • Commutation
      • Normal Retirement
      • Early Retirement
      • Late Retirement
      • Ill Health Retirement
    • Death Benefits
      • Death in Office
      • Death in Deferment
      • Death in Retirement
    • Councillor member guide – A brief guide to the Local Government Pension Scheme (LGPS) for eligible councillors in Wales
    • Internal Disputes Resolution Procedure (IDRP)
    • Forms and Literature
  • Employers
    • Administration Documents
      • Pension Administration Strategy
      • Communication Policy Statement
      • Customer Service Charter
    • Automatic Enrolment
    • Presentations and Seminars
    • LGPS Regulations
    • Internal Disputes Resolution Procedure (IDRP)
    • Secure Employers’ Area
      • Employer Guidance Manual
      • Local Government Association
      • Employer Forms
  • Investment and Fund
    • Funding Strategy Statement
    • Investment Strategy Statement
    • Actuarial Valuations
    • Annual Report and Accounts
    • Communications Policy Statement
    • Pension Fund Data Quality
  • News
    • Videos – Pensions made simple by the LGPS
  • English
    • Cymraeg
You are here: Home / Current Employees / Leaving the Scheme / Options

Options

Opting Out

If you are eligible for membership of the LGPS, you will automatically become a member unless you are employed by a designating body or admitted body, where you have to elect to join. You can leave the LGPS at any time by giving your employer notice in writing.  The opt-out form is available from the Pension Section or from this website and will normally take affect from the next available pay period after the option is received.

You are recommended to obtain independent financial advice before making a decision to opt-out of the LGPS.

If you opt-out within three months of joining you will be treated as not having been a member of the LGPS during that period. The contributions that you have paid will be refunded by your employer less any deductions for tax and the cost of buying you back into the State Second Pension Scheme (S2P).

If you opt-out after three months but within two years of joining, you are entitled to a refund of your pension contributions.  If you have more than two years’ membership or have transferred in previous pension rights, or already have a deferred pension or pension in payment with another LGPS Fund in England or Wales you are entitled to a deferred benefit.

You can rejoin the LGPS at a later date if you wish.

Refund of Contributions

If you leave, or opt-out with less than two years’ membership, have not brought a transfer into the LGPS and do not already have a deferred pension or pension in payment with another LGPS Fund in England or Wales, you may take a refund of your contributions less any deductions for tax and the cost of buying you back into the State Second Pension Scheme (S2P).

If you opt-out after two years’ membership you are entitled to a deferred pension.

Deferred Benefits

If you leave before normal pension age and have at least two years’ LGPS membership or have transferred in previous pension rights, or already have a deferred pension or pension in payment with another LGPS Fund in England or Wales, you will be entitled to deferred benefits in the LGPS.

Transferring your benefits

Alternatively, you may transfer your pension benefits to:

  • Another Local Government Pension Fund
    • If you re-join the LGPS with a new employer, you can transfer your LGPS membership to your new LGPS membership.
    • Youonly have 12 months from re-joining the LGPS to opt to transfer previous LGPS membership, unless your employer allows you longer
  • Your new employer’s pension scheme (if they are willing and able to accept it)
  • A personal pension.

Retirement

If you have more than 2 years’ LGPS membership or have transferred in any previous pension rights, at retirement, you are entitled to an index-linked pension guaranteed for life.

Click here to see how your benefits are calculated.

Footer

Contact information

Pension Section
Civic Centre
Oystermouth Road
Swansea
SA1 3SN
01792 636655
pensions@swansea.gov.uk

Privacy notice

Latest news

  • Statement from the Wales Pension Partnership and the LGPS in Wales
  • Pension fund on course to hit green target
  • Government Implements £95K Cap on Exit Payments
  • Age descrimination court case and the LGPS
  • Pension fund set to invest in green energy production

Log In (Employers Only)

Please log into the site.

Return to top of page

Copyright © 2022 City and County of Swansea Pension Fund

  • English
  • Cymraeg