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Total Reward and Annual Benefit Statements mid year refresh plans – October 2017
For the second year we are planning to carry out a mid year refresh of statements and the data cut will be taken over the weekend of 14/15 October 2017. This means any data amendments will have to be made by 7pm on Friday 13 October 2017. The…
TRS Refresh update on statement availability issues for employers
There are 3 main reasons why an annual benefit statement (ABS) may not be available for your members. These are listed below with some examples:
There is an issue that needs to be investigated. This could be because:
We have a query about the…
Locally agreed payments – Pensionable or non-pensionable
We have received enquiries from employers seeking clarification in relation to locally agreed payments and whether they are pensionable or not.
Local agreed payments may be pensionable up to whole-time provided the member meets the normal criteria…
Partial retirement
If you're aged 55 and over and you have agreement from your employer, you can choose to take part, or all of your pension benefits while you continue working in NHS employment and build your pension benefits in the 2015 Scheme. This is called…
Hypothetical annuity cost
Hypothetical annuity cost is not a standard benefit. It's included on your statement to show the likely cost of buying similar benefits on the ‘open market’.
The figures are based on market conditions at this date. Costs could vary significantly at…
Process reminder for pensionable pay on retirements
There has been an increase in queries from employers relating to pensionable pay for 1995 Section members. We want to provide a better understanding for you of how our processes work for awards and sub awards and help alleviate some your concerns.…
Update on error on 2023/24 Pension Savings Statements
Following our previous update, we can now provide more information to Scheme members affected by the 2023/24 pension savings calculation error.
We have written to affected members directly and will continue to provide regular updates. You do not…