Answer:

If you hadn’t retired by 1 October 2023 and are affected by Transitional Protection, your affected service has been rolled back from the career average scheme to the final salary scheme and your Benefit Statement has been updated to reflect this.

We’re working hard to show both options and will keep you updated on when this has changed. While it only shows your final salary option for the remedy period. you’ll be given both options when you make your retirement application.

Answer:

If you’re affected by Transitional Protection, from 1 October 2023 your affected service has been rolled back from the career average scheme to the final salary scheme and your Benefit Statement has been updated to reflect this.

Although your current statement only shows the final salary option for the remedy period (1 April 2015 -31 March 2022), you’ll be given both options when you make your retirement application.

We’re working hard to show both options and will keep you updated on when this has changed.

Answer:

For those who moved from the final salary scheme to career average scheme on 1 April 2022, you’ll have seen that change to your pension from then.

For those of you who are in the career average scheme when you come to take your retirement benefits, we’ll provide you with information to make your choice (Deferred Choice Underpin) from 1 October 2023.

As we’ll 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 of you planning to retire, you can claim benefits based on which arrangements you’re in. When we contact you, you may wish to take the alternative scheme benefits for the remedy period. If so, we’ll apply the changes retrospectively, from the point they should have been paid.

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, you’ll be given the opportunity to make a choice at retirement as to whether you wish to take final salary, or career average scheme benefits in respect of your 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 you to make an informed choice based on what best suits you.

Answer:

If you’ve not yet retired by 1 October 2023, your service will automatically be rolled back and your Benefit Statement will be updated to reflect this. Your Benefit Statement will also include additional information relating to the Transitional Protection remedy to help you understand the options available to you when you retire.

As you’re affected by Transitional Protection, we need to clearly demonstrate to you what your options will be at retirement. The easiest way to do this is by creating a PDF of your Benefit Statement detailing the two options as opposed to the current web page.

This is the simplest method of providing this to you and still allows you to access your Benefit Statement whenever you need to.