Referable Amount Transfer Expression of Interest SPS4 Form - Single Public Service Pension Scheme

Published date24 October 2019
IssuerDepartment of Education
Corr na Madadh, Baile Átha Luain, Co. na hIarmhí, N37 X659 SPS 4 Transfers Nov 2019
Cornamaddy, Athlone, Co. Westmeath, N37 X659
T +353 9064-83600 | pensions@education.gov.ie
Single Public Service Pension Scheme
Referable Amount Transfer Expression of Interest Form
Department of Education and Skills
Purpose:
The purpose of this form is to formally confirm your interest in seeking a cost quotation
to purchase additional retirement benefits by way of a transfer value provided by an external
Revenue approved pension benefit under the regulations providing for the Single Scheme
transfer facility.
Scheme members should pay particular attention to the eligibility criteria set out
at Section B below.
Important
Please note if, prior to taking up pensionable employment with the Department of
Education and Skills, you were employed in a pensionable Single Scheme capacity
with another Relevant Authority you must arrange for a “Verification for Purchase
Retained Single Scheme Benefits from Prior Employments” form to be completed
by each former employer in order to provide you with an accurate purchase cost
quotation.
Transfers of benefits into the Single Public Service Pension Scheme are permitted
from certain Revenue approved benefits, listed at Paragraph 5 of Circular 15 of 2019.
1. Where an external pension benefit can have a transfer value assigned to it, the
value is used to purchase additional retirement benefits in the Single Scheme (called
referable amounts) as specified by you.
2. Where a transfer value exceeds the cost of purchasing the calculated maximum
amount of pension/lump sum referable amount limits permitted, the excess
transfer value is forgone in line with the provisions of the facility.
3. All transfer values relating to a previous pensionable employment, PRSA or
BoB/PRB must be transferred in. Split transfers are not permitted.
4. If there is currently a Pensions Adjustment Order in place on any of your benefits,
this may impact the calculation.
5. Please note that transfers of external benefits, once finalised, are irrevocable.

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