What changes will a member see and when?

  • Answer:

    For those who moved from the final salary scheme to career average scheme on 1 April 2022, they’ll see that change to their pensions from then.

    Until the remaining legislation is completed, there’s no legal basis for the Scheme to implement the remedy. We therefore won’t be able to provide options to new retirees, or those affected during the remedy period until October 2023 at the earliest. As we’ll have to contact all members affected by the remedy from this date, it’s likely to take some time to reach everyone.

    For those members who are in the career average scheme when they come to take their pension, Teachers’ Pensions will introduce the DCU and provide members with information to make a choice.

    Until the remaining legislation is completed, there’s no legal basis for the Scheme to implement the remedy. Teachers’ Pensions therefore won’t be able to provide options to new retirees, or those affected during the remedy period until October 2023 at the earliest. As Teachers’ Pensions will have to contact all members affected by the remedy from this date, please bear with us as it’s likely to take some time to reach everyone. For those members planning to retire, you can claim benefits based on which arrangements you’re in. When phase two comes into effect, and after we contact you, you may wish to take the alternative scheme benefits for the remedy period. If so, Teachers’ Pensions will apply the changes retrospectively, from the point members should have been paid.

  • Answer:

    For members who are in the career average scheme when they come to take their pension, we’ll introduce the DCU and provide them with information to make their choice as soon as practicable. We’re working now on introducing the system and administrative processes that will allow us to provide them with their remedy period choices when they submit their retirement application.

  • 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 (legacy), or career average (reformed) 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.

  • Answer:

    We’re working to identify the necessary system and process changes. There are also outstanding technical details – for example on flexibilities – and primary and secondary legislation to be put in place. At this point we cannot provide a date from when the changes will be implemented. We will, of course, keep you and members updated on progress.

  • Answer:

    Until the necessary legislation process is completed, there’s no legal basis for the Scheme to implement the remedy. We therefore won’t be able to provide options to new retirees, or those affected during the remedy period until October 2023 at the earliest. As we’ll have to contact all members affected by the remedy from this date, it’s likely to take some time to reach everyone.

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