EPN663 – Added years and added pension for members who moved to alpha on 1 April 2022
Audience
Pension leads
HR professionals
Payroll managers
Third party/outsourced suppliers
Summary
This EPN contains further information regarding legacy scheme added years and added pension contracts for protected members who moved to alpha on 1 April 2022. It responds to queries from some employers and confirms the detail set out in EPN648 – Employer guide – alpha transition.
Actions
No action is required by members or employers – please leave legacy scheme added years and added pension contracts as they are and move the members into alpha for future pension accrual after 1 April 2022.
Timing
Immediate
Detail
As detailed in EPN648 – Employer guide – alpha transition, as of 1 April 2022, all members who remained in any of the legacy schemes should be moved into alpha. Since issuing EPN 648, we have received some employer queries regarding legacy scheme added years and added pension contracts held by members who moved into alpha on this date.
When alpha was introduced, it was determined that – although most members would be moved into the alpha scheme – any added pension or added years contracts that were set up when the member was in a legacy scheme can be honoured and be allowed to remain in place until their intended end date.
Therefore, you can leave these legacy scheme added years and added pension contracts as they are, whilst moving the members into alpha.
For a reminder of how to manage new added pension requests from 1 April 2022 to 31 March 2023, please see EPN 643.
Members in-scope of Remedy who took out a contract for the periodic purchase of Added Pension during the Remedy period will, in due course, be given a choice of scheme for post-2022 purchases of Added Pension. Further details will be published at a later date.
