Answer:

For those members who have not yet retired their service in the remedy period will have been ‘rolled back’ to the final salary scheme. 

For those members who are retired between 2 April 2015 and 30 September 2023 we’ll provide them with information to a make a choice. As we’ll have to contact all members affected by the remedy from 1 October 2023 please bear with us as it’s likely to take some time to reach everyone.

For those members who are planning to retire they will be provided with a Remediable Service Statement so that they can make their choice between the final salary benefits or the Deferred Choice Underpin.

Answer:

For retired members who are affected by the changes, we are working to provide Rectification Remedial Service Statements. Members who are planning to retire will receive their Remediable Service Statement when they apply for their retirement benefits so that they can make their choice before the pension becomes payable.

Answer:

If a member is impacted by Transitional Protection, they’ll be able to see a Benefit Statement - RSS on My Pension Online. The Benefit Statement - RSS shows them both choices for the remedy period. As with a Benefit Statement it updates each month (as long as you’re in active service) and you’ll be able to see any flexibilities and family benefit.

The Benefit Statement - RSS replaces their Benefit Statement.

Answer:

It’s important to remember that the period of service affected is that between 1 April 2015 and 31 March 2022. This is known as the remedy period.

As, for many members, the career average scheme is more beneficial, they’ll be given the opportunity to make a choice at retirement as to whether they wish to take final salary, or career average scheme benefits in respect of their service during the remedy period. It cannot be a combination of the two. This is referred to as the Deferred Choice Underpin (DCU). We’ll provide information to enable them to make an informed choice based on what best suits them.