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

• Published date: 24 October 2019
• Issuer: Department 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.