Bedfordshire Pension Fund Website

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Can I cash in my deferred benefits?


If you have a deferred benefit, which means that you paid into the LGPS for a certain length of time, then you will not be able to have a refund of the contributions you paid.

Under the LGPS regulations you can choose to transfer the value of your accrued pension rights to another occupational pension scheme, to a personal pension, to a stakeholder pension scheme or a buy-out insurance policy or you can leave the benefits in the Bedfordshire Pension Fund until you reach retirement age. 

Transferring your LGPS benefits, particularly to a personal pension or money purchase arrangement, is a serious matter.  Care should be taken to avoid unauthorised companies and you should obtain genuinely independent financial advice before you make a decision to transfer your preserved benefits.  More information can be found on the following websites: 


The Pensions Advisory Service - Transferring your pension

The Pensions Regulator