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  • Important information about transfer restrictions before 6 April 2015

    Topics:
    • Working in the Northern Ireland Civil Service, 
    • FAQs and information for NICS Pension Schemes Members, 
    • Recent news for NICS Pension Schemes Employers

    As part of his Budget Statement 2014, the Chancellor of the Exchequer announced that, from 6 April 2015, there is to be greater flexibility in the way that members of defined contribution pension schemes can access their pension pot.

    What does this mean for me?

    In essence, members of such schemes will be less constrained to purchase an annuity than is currently the case and will have more freedom to choose, in light of their personal circumstances, whether to purchase an annuity, draw down their savings as a lump sum, or keep their pension invested.

    • important information about new transfer restrictions

    Related content

    • 2015 Remedy Regulations
    • Active Member Frequently Asked Questions (FAQs)
    • Added Pension - Limits and Deadlines
    • alpha moving dates
    • Annual Benefit Statements - FAQs
    • Benefits of the Northern Ireland Civil Service Pension Scheme
    • Deferred Members Frequently Asked Questions (FAQs)
    • Employee Contribution Rates
    • Employee Pension Notices
    • Exceptions to the Transfer Ban - Additional Q&A - April 2015
    • General information for pensioners
    • Immediate Choice Remediable Service Statement (RSS) Frequently Asked Questions (FAQs)
    • Important information about transfer restrictions from 6 April 2015
    • List of NICS Employers
    • McCloud Judgment and Remedy FAQs
    • McCloud Judgment and Remedy FAQs - Remedy PSS
    • McCloud Judgment and Remedy FAQs - Tax
    • National Fraud Initiative
    • Partial Retirement
    • Pension Fraud
    • Pension payment details
    • Pension Savings Statement and Pension Taxation Frequently Asked Questions (FAQs)
    • Pension Savings Statements
    • Pensioners Frequently Asked Questions (FAQs)
    • Pensions and tax
    • Pensions Information Sessions
    • Remedy Pension Savings Statement (Remedy PSS)
    • Retirement Lump Sums
    • Scheme Pays
    • Stakeholder pensions
    • Suspension of Cash Equivalent Transfer Values (CETV) calculations
    • The Department of Finance Directions
    • Transfers
    • Voluntary deductions
    • Which NICS pension scheme am I in?
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