What if I want to transfer my pension?

If the transfer value is more than £30,000 and you wish to transfer you will need to take independent advice about transferring your benefits out of the SCPF from an adviser who is authorised by the Financial Conduct Authority. If you do not get advice the transfer cannot take place.

In the Pension Schemes Act 2021 (PSA21), the Government modified the statutory transfer legislation to enable schemes to reject transfer requests where certain conditions are not met. You can find out more about these conditions at Money Helper.

It is advisable to contact your new scheme first before requesting a quotation from the Pensions Administration Team.

If you have paid AVCs, your AVC fund can be transferred at the same time as your SCPF pension or on its own.