Welcome to Week One of our Pension Awareness Month event! This week, we're diving into the exciting world of retirement planning and helping you kickstart your journey towards a fulfilling retirement. Let's equip you with the essential tools and knowledge to map out this incredible adventure.
Did you know that retirement could make up a whopping one third of your entire life? That's a whole lot of time to enjoy the things you love. Retirement's your chance to embrace life after work and delve into your passions. Your Civil Service pension is your golden ticket to your "pension passion." The sooner you start thinking about your retirement, the more time you'll have to plan how to make the most of it.
Our members share their pension passions and how they're planning to enjoy their retirement. Take a moment today to reflect on how you envision spending your retirement and estimate how much you might need.
Alongside your salary, your pension is one of the biggest benefits of joining the Civil Service. But guess what? It's not just about the income you'll receive when you retire as there's a basket of benefits too.
Joining the Civil Service opens up two exciting pension pathways: alpha and Partnership Pension Account scheme. You're automatically enrolled in alpha when you join, but the power is in your hands to switch to Partnership should you feel you need to.
To make your choice, simply complete the Pension Choices form in your New Starter Pack and send it back to the address on the form.
Partnership is like a defined contribution scheme - what you get in the end depends on your contributions and how your pension fund grows. While you can contribute as much or as little as you want, your employer's contribution matches up to 3%.
Curious about the differences between alpha and partnership?
If you've got a pension from a previous job outside the Civil Service, you might be able to transfer it into your Civil Service alpha pension. Keep everything under one roof and make retirement prep a breeze!
This is your pension command centre! After registering, you'll access your benefit statements, a retirement modeller, and tools to manage your personal details.
In case of the unexpected, ensure your loved ones receive your benefits. Add or change beneficiaries via the Pension Portal or a nomination form.
If we don't hold a valid nomination for you, we'll pay your lump sum benefit to your personal representative(s). This is the person or people who deal with your financial matters after your death.
Get all the info you need about your Civil Service Pension in just one hour. Check out our quick video intro and secure your spot.
Your go-to hub for forms, guides, calculators, and scheme info. It's user-friendly and written in plain English.
Download the Pensions Passport and tick off tasks as you go. It's your roadmap to a hassle-free pension journey!
Prefer listening over reading? Tune in to our new podcast series dedicated to your Civil Service pension. With insightful guests, member stories, and entertaining content, it's your ultimate guide to navigating your pension like a pro. Don't miss out – listen and subscribe now!
In this hour-long Starting Your Journey session, our experts covered the following topics: