Armed Forces: Pensions

Ministry of Defence written question – answered am ar 26 Mawrth 2024.

Danfonwch hysbysiad imi am ddadleuon fel hyn

Photo of Lord Touhig Lord Touhig Llafur

To ask His Majesty's Government whether there is a time limit within which former Armed Forces personnel can transfer their service pension to a new pensions provider.

Photo of The Earl of Minto The Earl of Minto The Minister of State, Ministry of Defence

Armed Forces Pension Scheme (AFPS) benefits can be transferred out up until 12 months before the date the member reaches pension benefit age.

If a member wishes to transfer their AFPS benefits into another Public Sector scheme, this must be done within 12 months of them joining the new Public Sector Scheme.

Both the Pension Schemes Act 2015 and the Taxation of Pensions Act 2014 stipulates the rule that prevents transfers from unfunded public service defined benefit schemes (such as the AFPS) to funded defined contribution schemes in the UK or abroad.

Once an AFPS pension is in payment, this cannot be transferred out.

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