What is my Preservation Age?
For most members, the preservation age is 60. If you are a Police Officer, your preservation age is 55.There are special transitional arrangements for members who transferred from the Civil Service Pension Scheme on the 1 July 1999. These members have a preservation age between 50 and 60 depending on their age and service on 1 July 1999.
If I leave the Civil Service before my preservation age?
You are entitled to receive a Leaving Service Benefit. If you have at least three years (or more) service, the Leaving Service Benefit is equal to the sum of all your accounts. This means the balance of your Member Basic Account, Member Voluntary Account, Employer Account, Transfer Cashable Account and Transfer Preserved Account. If you have less than three years service or you are dismissed, you are not entitled to any of the employer contributions (that is, the Employer Account). If money was transferred into your Transfer Cashable Account or if you have contributed to your Member Voluntary Account you can receive the sum of these accounts. The balance of the benefit payable will stay in the Fund until you reach your preservation age (that is, it will be preserved). It will then be paid to you in a tax free lump sum. Once you leave the Civil Service administration fees will continue to be deducted from you Employer Account. The amount deducted will be 50% of the Administration Fee which applies to active members who are still in the Civil Service.
If I leave the Civil Service to join a new employer?
You are entitled to receive the same benefit as the Leaving Service Benefit, as described above. If you leave the Civil Service with more than three years service (regardless of your age) you will not forgo a benefit.
If I still work for the Civil Service when I reach age 60?
Both you and the Government will continue to contribute. As you will have reached your preservation age, you will receive your Leaving Service Benefit as a tax free lump sum immediately after retiring.
If I become redundant?
You are entitled to receive the same benefit as the Leaving Service Benefit, as described above. However, this benefit is payable immediately on redundancy. It is paid as a tax free lump sum (that is, preservation does not apply).
If I become totally and permanently disabled?
If the Retirement Fund Board agree that you are totally and permanently disabled (subject to the applicable conditions) you are entitled to receive the sum of all your accounts. This benefit is payable immediately on disablement. It is paid as a tax free lump sum (that is, preservation does not apply).
If I die?
The Death Benefit is equal to the sum of your accounts plus the insurance amount. The insurance amount is equal to your Salary at the July Review Date on, or immediately before your date of death. The Death Benefit from the Fund is paid as a tax free lump sum to your husband or wife, legitimate children or if none of these survive you, your legal representative. This benefit is payable to your dependants as soon as the necessary paperwork is completed.Note that this insurance amount will not be paid if:
If I am dismissed?
You will forfeit the entire balance of your Employer Account. Your Transfer Preserved Account and Member Basic Account will be preserved until your preservation age. All your other accounts will be paid to you after dismissa
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