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Gwynedd Pension Fund

Leaving Before Retirement

If you leave, or opt out of the LGPS before retirement, there are several options available to you.

If you have less than 2 years total membership, no previous LGPS pension rights and have not transferred previous pension rights into the LGPS, you can: 

  • Receive a refund of your contributions, less any deductions for tax.
  • Transfer your benefits into a new arrangement, such as your new employer’s scheme, or a personal pension plan.
  • Wait until you re-join the LGPS and elect to combine your benefits.

If you have more than 2 years total membership, or have transferred previous pension rights into the scheme, you can: 

  • Leave your benefits within the Gwynedd Pension Fund until you are entitled to retire.  This is known as a deferred benefit:  Your pension entitlements will be calculated at the date of leaving but payment will be deferred until normal retirement age.
  • Transfer your benefits into a new arrangement, such as your new employer’s scheme, or a personal pension plan.

For more information on the options available to you as a member with a deferred benefit, please visit the Deferred section of this website.