Transferring out

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Moving your benefits into another pension scheme

You may be able to transfer the benefits you’ve built up into another pension arrangement. For instance, you could transfer them into a new employer’s pension plan, a personal pension or stakeholder pension plan, or a ‘buy-out’ policy from an insurance company.  It is not possible to transfer your benefits into another Royal Mail pension arrangement.

The value of your benefits

You can ask for a statement showing the value of your benefits, should you wish to transfer them. This is called your Cash Equivalent Transfer Value (CETV) statement and it is calculated on a set basis which we decide on the advice of the Actuary.  Your CETV (excluding any AVC funds) will be guaranteed for a period, usually three months.

If you wish to transfer your guaranteed CETV, you’ll need to make sure all the associated paperwork reaches the Pensions Service Centre by the guarantee date shown on the statement. When you first contact the Pensions Service Centre about transferring your benefits, they’ll explain what you have to do.