Transfers Out

Forms concerning this process are not currently available online. Information concerning CETVs can be obtained from Group Pension Department. Enquiries can be emailed to: pensions.administration@nsg.com

The Scheme Trustee is obliged to make the member aware of the fact that where a CETV is in excess of £30,000.00 they are now required to take independent advice from an advisor authorised by the Financial Conduct Authority (FCA) prior to proceeding with such a transfer of benefits.

If a member chooses to proceed with a CETV request they will be required to provide evidence that they have received advice from an independent financial adviser authorised by the FCA specifically in relation to the provision of ‘Pension transfer Advice’ before any transfer may be made. This is specific information which must be included in the advisor’s confirmation. The advisor ought to be aware of this and should provide the necessary confirmation. Please be advised that a charge may be made for the provision of such advice.

The Pilkington Superannuation Scheme is a registered scheme under Chapter 2 of Part 4 of the Finance Act 2004; the Scheme pension registry number is 101109994. The PSS Trustee requires documentary evidence from the administrator of the receiving arrangement that the scheme is registered with the Pensions Regulator, with HMRC or the FSA prior to completing a transfer.

The Financial Services Authority, the Pension Regulator and the Pension Advisory Service provide information about transfers which may be of assistance to you when deciding whether to proceed with a transfer. The PSS is also eligible for support, if required, from the Pension Protection Fund.

Restrictions on your right to transfer

Please be aware that, since 30 November 2021, legislation restricts your right to take a transfer to another scheme. We can only make a transfer payment if one of two conditions are satisfied:

1. The “First Condition” is if you are transferring to either a public sector pension scheme (for example the civil service or NHS scheme) or an authorised master-trust. These transfers will proceed with minimal intervention.

2. The “Second Condition” applies if you are transferring to any other scheme. In this case, the Trustee can only pay the transfer if (i) there are no “red flags”; and (ii) either there are no “amber flags”, or if there are amber flags, you have demonstrated that you have taken guidance from MoneyHelper, before you can proceed. We will contact you within 7 days of any amber or red flags being identified. If we decide that there is a red flag, we will refuse your transfer request and explain why. If we decide that there is an amber flag, we will explain why and refuse your transfer request until you evidence that you have taken guidance from MoneyHelper. The red and amber flags are prescribed by legislation, and we have set these out for you in the Appendix below.

Appendix

Red Flags	Amber Flags
You fail to provide a substantive response to questions asked.	You have provided us with incomplete information, or information we believe is not true.
Someone helps you when they are not authorised by the Financial Conduct Authority to provide that help.	The scheme you want to transfer to has any of (i) high risk or unregulated investments; (ii) unclear of high fees; (iii) an investment structure which is unclear, complex or unusual; and (iv) there are overseas investments in the scheme.
Someone (e.g. an IFA or a scheme) cold-called you (i.e. contacted you when you did not have an existing relationship with them).	Information is provided by your adviser, rather than being provided to us directly by you.
You have been offered an incentive to make the transfer.	The evidence you provide about your employment or residency is not satisfactory.
You have been offered an incentive to make the transfer.	We have received an unusual number of requests to transfer to the scheme you want to transfer to, or from your adviser for other members.
There is an amber flag, and you do not provide us with evidence you have taken guidance.