Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Short service benefit definition

What does Short service benefit mean? The minimum preserved pension an occupational pension scheme must provide to a member who leaves pensionable service before retirement and is not entitled to an immediate pension. In England & Wales, Scotland and Northern Ireland, short service benefit is a statutory concept under the Pension Schemes Act 1993 (and the NI equivalent) and the Occupational Pension Schemes (Preservation of Benefit) Regulations. It gives early leavers with sufficient qualifying service (commonly at least two years) either: - a deferred pension payable at normal pension age, with statutory revaluation; or - a statutory cash equivalent transfer value to another qualifying arrangement. If the member lacks the...

Occupational pensions: early leavers without short service benefits—statutory refunds or cash transfer sums, trustee duties, and DB/DC calculation rules

Published by a LexisNexis Pensions expert

Practice notes

THIS PRACTICE NOTE APPLIES TO OCCUPATIONAL PENSION SCHEMES ONLY

Under preservation law, a short service benefit is the pension entitlement that must be given to a member who leaves an occupational pension scheme before retirement, without any immediate pension being payable. Not every early leaver is entitled to have their pension rights preserved within the scheme itself. This Practice Note considers rights and choices open to early leavers who currently lack a short service benefit. For wider guidance on preserving benefits within schemes, see Practice Note: Early leavers—preservation for more detail. In this Practice Note, references to trustees also include the managers of a scheme.

When will an early leaver be entitled to a short service benefit?

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Web page updated on 21/05/2026

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