§ Sir Brandon Rhys Williams
asked the Chancellor of the Exchequer how many people changing employment within the public sector are required to accept pension 677W entitlements in their new appointments smaller than they would have enjoyed if they had remained in their earlier employment; and what is the comparable number of those leaving the public sector for private sector employment.
§ Mr. Brooke
No one is required to transfer his or her accrued pension rights when leaving a public sector employer, but there is an option to do so. If the transfer is to another public sector scheme there are arrangements which can be expected to produce benefits in the receiving scheme of equivalent value to the individual. A similar option is available for those moving to the private sector but the benefits allowed in the receiving scheme will depend upon the advice of the scheme's actuaries.