Transferred pension

[Cobain14]

My partner is coming up 60 and when he left the Navy he transferred his pension to Clerical medical, he gets a monthly pension ( this started at 55 til 75 )

we’re struggling to find out if he’s still entitled to the lump sum at 60?

many advice greatly appreciated

 

[WreckerL]

One for @vauxhall

 

[vauxhall]

I am sorry to have to tell you that, when a pension is transferred out of a scheme, all rights in that scheme are extinguished. Page 15 of the attached refers.

 

[Cobain14]

Many thanks, we thought this was the case but my partner had had 2 pension forecasts from the MOD ( after his pension was transferred ) 2015 and 2018 and both say he’ll get a lump sum at 60 ‍‍

 

[vauxhall]

Mmmm. Very strange. An AFPS 75 preserved pension comprises an annual income and a lump sum worth three times the income. I cannot think of a circumstance when just a lump sum would be paid to the member as you describe. If he does claim, drop me a PM to tell me what happens, please.

 

[Cobain14]

Mmmm. Very strange. An AFPS 75 preserved pension comprises an annual income and a lump sum worth three times the income. I cannot think of a circumstance when just a lump sum would be paid to the member as you describe. If he does claim, drop me a PM to tell me what happens, please.

We’re waiting for the pensions department to come back to us, I’ll keep you updated