My money

Pension: How to opt out

You may need to opt out of your current pension scheme to join another. Support on how to do so can be found below.

Local Government Pensions Scheme (LGPS)

To opt out of LGPS, fill in the opt-out form and email it to pensions@ntu.ac.uk.

You can only sign and date this opt-out form once you have commenced employment at NTU

If you opt out in the first three months of joining the scheme, you'll receive:

  • A refund of any money you’ve paid in through your pay.

If you opt out after three months, but before completing two years:

  • You may get a refund of your contributions from LGPS, or
  • You can transfer the contributions to another scheme.

If you opt out after two years in the scheme, you'll receive a pension benefit (a deferred pension). This is at the scheme's normal pension age, which is your State Pension age but with a minimum age of 65.

More information about this Scheme can be found on the LGPS website. 

You can opt out and rejoin at any time.

Teachers' Pension Scheme (TPS)

To opt out of TPS, you need to create a My Pension Online account if you want to opt out.

If you opt out in the first three months of joining the scheme, you’ll receive:

  • A refund of any money you have paid in through your pay.

If you opt out after three months, but before completing two years:

  • You may get a refund of your contributions from TPS, or
  • You can transfer this contribution to another scheme.

If you opt out after two years in the scheme, you'll receive a pension benefit (a deferred pension). This is at the scheme’s normal pension age, which is your State Pension age, but with a minimum of age 65.

  • You can opt out and rejoin whenever you like. However, you are only able to be a member of one workplace pension scheme at any one time.

More information about this Scheme can be found on the TPS website. 

The Universities Superannuation Scheme

To withdraw from USS (leave after 3 months within the scheme)

You must complete the notice to opt out or withdraw from USS form available at the bottom of this page: Thinking of leaving

*Please note that USS impose a 28 + day notice period. The election is effective from the first day of the month following the one in which the 28 day notice period expires.