Under the LGPS regulations an entitlement to a refund of pension contributions exists if you have less than 2 years qualifying membership and none of the following apply:
- You are transferring to other local authority employment in which you will again become eligible to join the LGPS within one month and one day of your last day of service;
You have brought a transfer value into the LGPS from another pension arrangement or a pension scheme other than the LGPS that has credited you more than 2 years qualifying membership;
You have left employment with less than 2 years qualifying membership of the Berkshire Pension Fund but you have LGPS rights anywhere else in England & Wales;
You are continuing to contribute in another employment held concurrently with the employment that has ended;
You are over State Pension Age;
You have become entitled to the immediate payment of benefits upon leaving your current employment.
How much is my refund?
A refund of contributions is equal to the standard gross employee contributions plus any additional contributions that you may have paid. The refund payment does not include employer contributions.
- If you have been contributing to the LGPS for more than three months but less than two years a tax deduction will be taken at a rate of 20% before any refund is paid. This deduction is made irrespective of whether you are a taxpayer. The tax deducted is not reclaimable from the Tax Office even if you do not earn enough to pay tax
- At least one month and one day must elapse after your last day of service before an application for a refund of contributions can be signed and submitted. An application received within this time limit will be returned to you
- We are unable to accept pre-dated refund application forms
- By claiming a refund of contributions neither you, your spouse, co-habiting partner, civil partner or dependents will have any further claim to benefits payable by the Royal County of Berkshire Pension Fund.
- Your refund payment will be processed within 10 working days from receipt of your completed refund application form
- Please note we are unable to refund employer contributions