You may have to take appropriate independent financial advice

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If you are considering whether to transfer your pension benefits from the Local Government Pension Scheme (LGPS) to another scheme, please make sure you have full information about the two pension arrangements - details of what your benefits are worth in the LGPS and details of what your benefits would be worth in the new pension scheme, if transferred.
 
When you compare your options, don’t forget that your LGPS benefits are guaranteed cost of living increases. Transfers to public sector schemes usually give benefits that are broadly equivalent to those in the LGPS, under what are known as Club transfer rules, provided you apply for the transfer within 12 months of joining your new pension scheme, and have not had a break in membership of more than 5 years between leaving the LGPS and joining the new public service pension scheme.
 
If you are transferring from the LGPS to a defined contribution scheme you must take appropriate independent financial advice before transferring. This is a legal requirement if the cash equivalent transfer value of all your benefits in the LGPS (excluding any Additional Voluntary Contributions (AVCs)) is more than £30,000. If the cash equivalent transfer value of all your benefits in the LGPS (excluding any Additional Voluntary Contributions (AVCs)) is £30,000 or less you are not legally required to take advice. However, transferring your pension rights is not always an easy decision to make and seeking the help of an independent financial adviser before you make a decision to transfer your deferred benefits (to a personal pension plan, stakeholder pension scheme, buy-out insurance policy or an employer’s money purchase scheme) could help you in making an appropriate decision given your decision could significantly affect your future pension benefits.
 
If you are considering whether to transfer benefits, make sure you have full information about the two pension arrangements; details of what your benefits are worth in the LGPS and details of what your benefits would be worth in the new pension scheme, if transferred. When you compare your options, don’t forget that your LGPS benefits are guaranteed cost of living increases.
 
If a full transfer payment is made, you will not be entitled to any further benefits from the LGPS for yourself, your spouse, civil partner, eligible cohabiting partner or eligible children.