Unless you’ve already started receiving your pension, you may be able to consider transferring your benefits out of the Fund.
If the value of your benefits is more than £30,000, it’s a legal requirement that you demonstrate to the Trustee you’ve received the appropriate financial advice before the payment can be made.
Pension scams are still on the rise, it’s more important than ever to be aware of scammers trying to con you.
See some simple steps to help protect yourself.
How do I transfer out
First, you’ll need to contact the NPF team at Buck to request a transfer value quotation. You can receive one transfer value quotation free of charge in any 12-month rolling period. Any further requests within 12 months, from the date of the first quote, will be subject to an administration charge.
Included with your quotation will be all the forms, that you will need to complete before the transfer can proceed.
You may be able to transfer your benefits to an overseas scheme. The rules around transferring pension benefits to an overseas scheme are complex. If you are considering transferring to an overseas scheme you should speak to the NPF team at Buck.
What is a registered scheme?
Registered schemes are those that HM Revenue & Customs (HMRC) have approved to receive pension contributions. The Nationwide Pension Fund is a registered scheme.
You normally do not pay tax on contributions paid to registered schemes. As a result, you can only transfer your Fund benefits to another scheme approved by HMRC.
Requesting a Quote
To request a transfer quotation contact the NPF team at Buck.