AQW 4953/10

Mrs Naomi Long
Alliance Party
East Belfast

Tabled Date: 18/02/2010
Answered On Date: 02/03/2010
Priority Written: No

Question:
To ask the Minister of Finance and Personnel to outline the current arrangements for the transfer of pensions for public sector personnel leaving Northern Ireland to live in other parts of the United Kingdom.

Answer:

Individual pension schemes have arrangements for the transfer of pensions for public sector personnel leaving Northern Ireland to live in other parts of the United Kingdom to transfer their accrued pension benefits to any scheme in the United Kingdom.

These arrangements enable a transfer payment to be calculated by converting the value of the member’s rights in each of the schemes to a current cash equivalent value using factors supplied by the scheme actuary. The receiving scheme then converts this to accrued benefits.