Date posted: 01/12/2009
Audience: HR and Communication Managers and all staff responsible for dealing with Added Pension contracts and enquiries from members
Action:
- Issue the attached Office Notice to all staff. (Please insert the details of your pensions administrator where requested to do so, before you release the notice.)
- Remind your payroll provider to expect a possible increase in the volume of added pension instructions from your pensions administrator
Timing: Immediately
Detail
- Members who wish to pay extra to top up their benefits in any of the classic, classic plus, premium or nuvos sections of the Civil Service pension scheme can buy Added Pension. EPNs 177 and 193 refer. The attached Office Notice reminds members to apply now, and includes the appropriate application form.
- Added Pension can be bought by either a lump sum or by monthly contributions. In both cases, the contributions made in any scheme year (April to March) are converted into Added Pension at the end of the year (31 March) and then receive index-linking, when appropriate. This is done at the beginning of every April by reference to the Retail Prices Index (RPI) for the previous September.
- Members who wish to pay by monthly contribution can only start from 1 April. They must, therefore, apply to your pensions administrator in time for them to process the application form and tell your payroll to start deductions from the April pay run.
- Members who wish to buy added pension by lump sum before the end of the scheme year must ensure that their application and payment are received by the pensions administrator by 11 February 2010, to ensure that any cheques have time to be banked and cleared by 31 March 2010.
- The Office Notice applies to members who have been in service for more than 12 months; the rules vary for new entrants. We have highlighted this in the text and advised new entrants to contact their pensions administrator for advice on eligibility.
- Please issue the notice as soon as possible and remind your payroll to expect added pension instructions from your pensions administrator.
Contacts
Enquiries about content, distribution or to receive in a different format
employerhelpdesk@cabinet-office.x.gsi.gov.uk
01256 846414
Employer Helpdesk
Civil Service Pensions
Grosvenor House
Basing View
Basingstoke
RG21 4HG
Attachments
