Transfers in
For both the RPS60 and RPS65, if you have pension benefits in another RPS Section you could transfer these benefits into your RPS60 or RPS65 pension benefits with Network Rail.
If you have preserved pension benefits in either CARE or NRDC, you are allowed to transfer these benefits into your RPS60 or RPS65 pension benefits with Network Rail. Transfers in will be invested in BRASS only.
RPS60 and RPS65 does not permit transfers in from any external pension provider.
To investigate a possible transfer in from either another RPS Section or from CARE or NRDC, please complete the RPS Transfer In Form.
The transfer will not happen automatically. You will be sent a Transfer Quotation with the relevant forms for you to complete. The transfer will not proceed until you have signed the relevant transfer forms.
Transfers out
If you are no longer paying in to either RPS60 or RPS65 with Network Rail and haven’t yet drawn your RPS pension benefits, you may be able to transfer your RPS pension benefits, including any BRASS funds, to any HMRC registered scheme, such as your new employers pension scheme or a personal pension plan.
You will need to contact your new employers scheme administrator or personal pension provider to investigate if a transfer of your RPS pension benefits is possible.
Compulsory transfer of employment (TUPE)
If your job is transferred to another employer, because of a contract or business sale or change in franchise, you can no longer be a member of either RPS60 or RPS65.
If you are a Protected Member or have an ‘indefeasible right’, under the Railways Act 1993, you will continue as a member of the RPS. Your new rail employer must give you the option of joining their Section of the RPS.
Railpen, the administrators of the RPS, will contact you once your new RPS membership is set up, and will send you transfer information about your pension options within six months of your employment transfer.