Transfers Out

You may transfer the value of your deferred benefits to another registered pension scheme (for example, your new employer's scheme, or a personal pension) at any time. If you decide to transfer your benefits to another scheme, the transfer value available to you will be:

C & J Clark Pension Fund - Plan 35

The current cash value of your deferred benefits, calculated in accordance with instructions provided by the Fund actuary. The value of the future benefits payments, taking into account guaranteed increases both before and after the benefit becomes payable, are discounted at an assumed rate of interest. The calculations take into account the probability of each benefit payment being made, but no allowance for future discretionary increases.

Clarks Flexible Pension Scheme - Pay Related Section

Your transfer value at date of leaving, calculated on a basis specified in the Scheme rules and then revalued in line with the performance of a notional portfolio of investments agreed periodically between the Company and the Trustee; or, if greater, your statutory cash equivalent. Note that transfer values can be reduced in some circumstances. 

If you are considering transferring your benefits from either Plan 35 or the Pay Related Section, you will be provided with a guaranteed cash equivalent. This is a quotation of the transfer value payable and also gives you instructions on how to exercise this option. Requests for a guaranteed cash equivalent may only be made every 12 months and if you choose to proceed with the transfer you are required to reply within three months of the quotation. If you are interested in transferring or obtaining an estimate of your transfer value, please contact the Pensions Department.

C & J Clark Pension Fund - Plan 18/AVC
Clarks Flexible Pension Scheme - Investment Related Section

The transfer value of your benefits in Plan 18 or the Investment Related Section will be the value of your account in that scheme.

© Clarks Pensions 2014