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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 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.

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.

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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 complete a Transfer In Form (MS Excel) and email to pensions@ucd.ie

Step 2: The UCD Pensions Office will investigate the service with the previous public sector organisation(s).  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.

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 pension scheme and personnel number.

 

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Forms

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