To address the discrimination identified by the courts, eligible members who were moved to the reformed pension scheme (alpha) in 2015 (or later if they had tapered protection) have been moved back into their Legacy pension scheme for the period during which the discrimination occurred, between 1 April 2015 and 31 March 2022.
When members, or members who were originally protected, near retirement, they will receive a choice of which pension scheme benefits they would prefer to take for the period. This is called a ‘deferred choice’.
The choice will be between the member’s Legacy (classic, classic plus, premium and nuvos) pension scheme benefits and their reformed pension scheme benefits.
By deferring the choice until shortly before retirement, it allows individuals to make their choice of which pension scheme benefits are better for them, based on facts and known circumstances as opposed to assumptions on their future career, health, retirement and other factors. The level of both pension scheme benefits will be known at retirement.
For those pensioners who are already receiving benefits relating to the period of discrimination between 2015 and 2022 there will be an immediate choice as soon as practicable once the necessary provisions are in place.