COSR early leaver termination, transfers, buy out and change of Responsible Paying Authority (RPA) notifications
Important notes
- From 6 April 1997 a transfer to a section 53 scheme (formerly contracted-out) can only take place if the employee applied for a transfer before 6 April 1997
- If a COSR scheme switches to COMP status on 5 April 1997, the pre ‘97 COSR rights held in that scheme cannot be transferred to the COMP scheme set up from 6 April 1997
- Transfers cannot be made to an inactive part of a COMB scheme.
| Period of COSR employment | Pension rights retained in the scheme | Pension rights transferred | Section 32 buy-out | Change of responsible Paying Authority |
|---|---|---|---|---|
Begins and ends before 6 April 1997 |
GMP rights are retained in the scheme at the schemes revaluation rate of: S148 – submit form CA1616 Fixed rate – submit form CA1615 Limited rate – submit form CA1612 |
GMP rights may be transferred to: Another COSR or active COSR part of a COMB scheme at: - S148 – submit form CA1617 - Fixed rate – submit form CA1599 - Limited rate – submit form CA1600 A COMP scheme or active COMP part of a COMB scheme – submit form CA1601 An APP scheme – submit form CA1602 An overseas scheme – submit form CA1890 |
MP rights retained in a COSR scheme may be bought out with an approved
Insurance Company CA1610 if a notice of termination has already been sent or CA1891 if a notice of termination has not already been sent |
The responsibility for GMP rights retained in the scheme may be changed to another paying authority. If this new authority is: Another COSR scheme A COMP /COMP SHP scheme A COMB scheme (provided the GMP rights were transferred to an active part) An APP /APP SHPscheme Submit form: CA1888 if a notice of termination has already been sent or CA1889 if a notice of termination has not already been sent |
Begins before 6 April 1997 and ends on or after 6 April 1997 |
GMP rights and post ’97 COSR rights may be retained in the scheme and the GMP rights re-valued by the schemes revaluation rate of S148 Fixed rate Submit form CA1886 |
GMP rights and post ’97 COSR rights may be transferred to: Another COSR scheme or active COSR part of a COMB scheme. If so, GMP rights may be transferred at the scheme’s chosen revaluation rate (section 148 or fixed rate) A COMP/COMP SHP scheme or active COMP part of a COMB scheme An APP/APP SHP scheme Submit form CA1887 An overseas scheme – submit form CA1890 |
GMP rights and post ’97 COSR rights retained in a COSR scheme may be bought out with an approved Insurance Company. Submit form: CA1610 if a notice of termination has already been sent or CA1891 if a notice of termination has not already been sent |
The responsibility for GMP rights and post ’97 COSR rights retained in the scheme may be transferred to another paying authority. If this new authority is: Another COSR scheme A COMP/COMP SHP scheme A COMB scheme (provided the GMP rights and post ’97 COSR rights were transferred to an active part) An APP/APP SHP scheme |
Begins and ends after 6 April 1997 |
Post ’97 COSR rights may be retained in the scheme Submit form CA1886 |
Post ’97 COSR rights may be transferred to either: Another COSR scheme or active COSR part of a COMB scheme A COMP/COMP SHP scheme or active COMP part of a COMB scheme Submit form CA1887 An overseas scheme – submit form CA1890 |
Post ’97 COSR rights retained in a COSR scheme may be bought out with an approved Insurance Company. Submit form: CA1610 if a notice of termination has already been sent or CA1891 if a notice of termination has not already been sent |
The responsibility for Post ’97 COSR rights retained in the scheme may be transferred to another paying authority. If this new authority is: Another COSR scheme A COMP/COMP SHP scheme A COMB scheme (provided the post ’97 COSR rights were transferred to an active part) An APP /APP SHP scheme CA1888 if a notice of termination has already been sent or CA1889 if a notice of termination has not already been sent. |
