Pension Help Please

[HappyGoDucky]

Hello,

The obvious answer is to call the pension provider however the issue hasn't arisen just yet.

My job was transferred under TUPE protection last year. I hold a LGPS fund to which my employers have up until now paid into. It's likely I will have to sign a new contract with the company. They have yet to confirm if my pension will transfer. I am aware they have to provide one but I'm also aware even due to TUPE they don't have to provide the same pension,l.

My query is that I am loathed to lose (freeze) my current pension and go onto nest or the company pension scheme as the LGPS for me is the best around.

Would I be able to continue to pay into my LGPS and not choosing to at into nest etc? Or is there another way around it as I would like employers contributions too.

TIA

You should be able to make personal contributions to your old scheme, however, I understand that in order to get your employer contributions, you will also need to pay into whatever pension scheme they have in place.

Yes, that's what I'm guessing. I'm not sure if I can afford to pay on to both.

@HappyGoDucky when you TUPE transferred your new employer would have signed an ‘admission agreement’ with the pension fund. This agreement will set out who can be in the LGPS and on what terms. Usually, it’s only staff who TUPE transferred who can be in the LGPS (not other staff employed by the company) and its not unusual for the agreement to say that LGPS access only continues while the transferred staff are still working in the same job that transferred. Ring up the administering authority (the local authority that runs the fund) and they will be able to tell you what the terms of your company’s admission agreement are. You then need to find out from your company whether this new contract changes the terms of your job so that you no longer have LGPS access. Unfortunately you will only be able to pay into the LGPS if you are in an eligible employment so you need to find this out. If the employer says you’re no longer eligible for the LGPS you won’t be able to carry on paying into it. If you’re in a union you should speak to them to find out whether what your employer is doing is legal, as this sounds from what you’ve said like a forced change rather than voluntary.

@ChessyFL yes it's forced however they have legitimate ETO reasons for forcing it through. I'm concerned I will no longer be able to pay into the LGPS. I'm not sure what my options are.

OP there should be a consultation phase if you are being TUPEd when you have the chance to raise all queries regarding the change in your employer, and what your pension options are. They shouldn't leave you guessing. Can you ask your HR for the TUPE timetable?

Sorry, I just noticed you've been TUPEd already.

You will need to ask your employer whether the change of contract removes your LGPS access - nobody here will be able to tell you.

@Chessie is spot on with advice

I have asked my employer but they are slow in response. Consultation period ends next week but I'm not in receipt of all the facts!