OSPS APEs: Transfer
If a member wishes to look into a possible pension transfer, please can you arrange for the member to complete and return the following form of authority to OSPS.
Inquire into transferral from a previous pension arrangement (TVIN1) form 
(19kb) enables OSPS to contact the member’s
previous
scheme(s) on their behalf in order to obtain the necessary information
to
establish if we can accept a transfer. If a transfer is possible we will
then
to go on to provide quotation of what the alternative benefits would be
under
OSPS.
Making an informed choice is important. Please note that OSPS is not permitted by law to give financial advice. The transfer will not proceed without express further authority from the member by returning the discharge form(s) which accompany our transfer offer.
OSPS is a member of the Public Sector Transfer Club. This results in better pension transfers between participating schemes than is often the case between private sector schemes. However, due to the differences between scheme benefits day for day service credits do not always result.
Transfers Out
These are rare for current employees, except where they leave OSPS to join USS. There are currently no charges incurred for transferring out. The member needs to authorize the new scheme to contact OSPS directly in order for us to be able to release the relevant transfer information and discharge forms.
Please note that the OSPS benefits of members who are leaving OSPS to join USS due to promotion or regrading will not be transferred to USS automatically, As with other transfers out, members need to give USS their written permission to commence a pension transfer investigation. In order to transfer their benefits to USS under Club arrangements members will need to complete the USS transfer inquiry form within two years of joining USS and then accept the service credit offered.