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Transferring Pension Benefits

Overview

Employees coming to UCD from another public sector employer may be able to transfer their pensionable service from their old employer to UCD. Below you'll find an outline of the system, information describing how it works in practice and contact details should you have a query.

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Background

UCD participates in the Irish Public Sector Transfer Network.  This allows employees who transfer from one area of the Public Sector to another, to transfer their pensionable service and receive full credit for pension purposes with the new public sector employer. UCD operates a knock for knock transfer basis which means the pensionable service accumulated with the previous employer is simply added to the UCD pension record.

Note: Not all previous public sector service is pensionable and may not be transferrable.  However it may be possible to buy back this type of service now at a cost.

An employee may also transfer out service (no minimum service requirement) to another public sector organisation  within the Irish Public Sector Transfer Network when they leave UCD.  If this option is taken, the other public sector organisation assumes responsibility for the service with the University and no benefits are payable by the University.  More details can be found in the Leaver Benefits section.

Please be aware if you are moving from one Single Scheme employment to another Single Scheme employment you do not need to arrange for a ‘transfer’ of these benefits as it is the same Single Public Service Pension Scheme in place across the public service. Your Single Scheme benefits will be consolidated with your latest Single Scheme employer on your retirement. 

 

 

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How it works

Transfers from Public Sector

Step 1: If you think you have previous pensionable service in the public sector or civil service and wish to transfer in to the UCD Pension Scheme please email the details to pensions@ucd.ie, including the following information: 

- Name and contact details of your previous employer
- Personnel number under your previous employment
- Exact dates of service with your previous employer
- Position title(s) under your previous employment
- Contract type(s) under your previous employment i.e. permanent, temporary etc.
- Any other details of relevance regarding your previous employment

Step 2: The UCD Pensions Office will investigate the service with the previous public sector organisation(s) on your behalf.  This can take a long time to complete especially if the service was a long time ago and records were not electronic or since archived.  It is recommended you investigate transfers of service when you start your employment with UCD to allow for any delays that may be experienced with the investigation.

Step 3: Once your previous employer has verified the details of your previous employment and has confirmed that your previous service can be transferred into the UCD Pension Scheme, this information will be displayed on your online pensions record.

Transfers from Private Sector

There is no reciprocal arrangement in place which allows the UCD Pension Scheme to recognise pensionable service completed under a private sector pension scheme. The Notional Service Purchase Scheme (NSPS) does, however, provide a facility whereby eligible employees may use transfer values released from Occupational Pension Schemes to purchase notional service under the UCD Pension Scheme by way of lump sum payment at full actuarial cost. Service purchased under the NSPS is treated as if it is actual service completed under the UCD Pension Scheme.

Step 1: If you think you have previous pensionable service in the private sector and wish to find out more about the Notional Service Purchase Scheme, please read our Notional Service section for further details.

Step 2: If you would like an illustration of how much service you can purchase, please email pension@ucd.ie with the current transfer value of your previous pension scheme and your UCD personnel number. The current transfer value of your previous pension scheme can be obtained from your previous pension scheme administrators.

Transfers from Overseas

Transfers in from eligible overseas pension arrangements may also be facilitated under the Notional Service Purchase Scheme in specific circumstances. This facility will be assessed on an individual basis and is subject to Revenue guidelines. Please contact the Pensions Office directly for further information at pensions@ucd.ie.

 

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Ask HR

If you cannot find the information you are looking for please 'Ask HR' by completing this form below.

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If you are unable to find the information you are looking for, please call 
HR on + 353 (01) 716  4909