The Public Sector Transfer Club (which allows members to transfer service between eligible schemes on favourable terms) is continuing after April 2015. This is good news. However, a Club transfer will not in future be possible where there has been a gap in service of more than five years between the member leaving the previous Club scheme and joining the new one.
This provision has had a knock-on effect on the current arrangements for transferring pension rights between Teachers’ Pension Schemes in the UK, the Isle of Man, Guernsey and Jersey. Members who have pension rights in another teachers’ pension scheme in the UK , the Isle of Man, Guernsey and Jersey and who may wish to transfer these rights into their current scheme should investigate immediately. The current, almost unlimited right, to transfer pension rights will end by 31 March 2017.