Key changes

These are the key changes to the Scheme for those of who are affected.

  • If eligible, a member will choose between their final salary (legacy) and career average (reformed) pension scheme benefits for service between 1 April 2015 and 31 March 2022. They’ll make their choice at the time they take their pension benefits (e.g. when you retire), this is named the Deferred Choice Underpin (DCU).
  • Initially, member who were moved to the career average (reformed) scheme in 2015 (or later if they had tapered protection), will be moved back into the final salary (legacy) scheme for the remedy period. However, when they then take their pension benefits, for example at retirement, they’ll get to choose between their final salary (legacy) and career average (reformed) scheme benefits. At this point, they’ll receive the necessary information to be able to make a choice about which pension scheme benefits are better for them.
  • Affected members who have already taken benefits from the final salary (legacy) scheme, or will before April 2022, will be given a choice between their final salary (legacy) and career average (reformed) scheme benefits for service between 2015 and the date they take their pension benefits. This choice will be offered as soon as possible after legislation is implemented and any change to benefits will be backdated.
  • From 1 April 2022 all active members will accrue service in the career average (reformed) scheme.

More detailed information around the key changes to the Scheme can be found in our member factsheet and the further information about the changes to the Scheme can be found in the government response (This link opens in a new window).

When will these changes happen?

For most members affected, they’ll receive the deferred choice underpin at the point their benefits become payable, which for most will be retirement. 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.

Last Updated: 09/03/2021 15:21

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