Opt out
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The opt out process
If a member wants to opt out of the pension scheme, they must complete an opt out form and return it to your payroll department to action.
Please encourage the member to consider changing to the 50:50 section of the scheme, as this will provide them with benefits such as the same death in service payment, whilst reducing their pension contributions.
Opt out forms can be obtained by the member from the Surrey Pension Fund Member site or by contacting us.
Please note that you are not able to provide the member with the opt out form directly.
Opt out within 3 months
If the member opts out within the first 3 months of joining the scheme, all their contributions must be refunded through their pay, as they are deemed to have never been a member of the LGPS.
Please note that you cannot accept an opt out form dated before the member started their employment.
Once the form has been processed, you should include their details in your next monthly data return.
Depending on your organisation, this may be via a SAP return, iConnect or by sending us the scheme leaver datafile via Egress Switch to pensions.technical@surreycc.gov.uk, and note ‘Refunded through payroll’ in the notes section.
Please send a copy of the member’s opt out form to lgps.forms@surreycc.gov.uk, via Egress Switch.
Opt out from 3 months
If the member opts out of the scheme after 3 months, you should include their details in your next monthly data return.
Depending on your organisation, this may be via a SAP return, iConnect or by sending us the scheme leaver datafile to pensions.technical@surreycc.gov.uk, via Egress Switch.
Please send a copy of the member’s opt out form to lgps.forms@surreycc.gov.uk, via Egress Switch.
If the member has less than 2 years membership, their contributions may be refunded to them, less tax, providing they are entitled to a refund.
The member may also transfer their benefits to another pension scheme, should they wish to do so.
Please note: if you are advising us of an old refund due, please supply the NI Earnings between Lower Earnings Limit (LEL) & Upper Accrual Point (UAP) for all pre-April 2016 tax years.
If the member has more than 2 years membership, or are not entitled to a refund, their retirement benefits will be deferred (frozen).
Once we have received your notification, we will write to the member with their options.