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EPN402 - 2015 Pension Changes - Information about the Options Exercise

Audience:

This notice will be of interest to:

  • HR Managers and;
  • Pension Leads

Action:

You should now have received an email containing a list of your staff who are eligible for the Options Exercise. You should direct these members to the new Options Exercise member communications material, and familiarise yourself with the content. This will be published on the new Civil Service Pensions website on 13 October 2014.

Timing:

As soon as possible after 13 October 2014.

Information about the Options Exercise

  1. The latest member communications material about the Options Exercise will be published on the new scheme website on 13 October 2014. Options Packs will be sent to eligible members from 13 October, so the online information will be available to your staff when they receive their Pack. We will also put a mock-up of an Options Pack on the website so you and your staff know what to expect.
  2. The new material will be published in the member section of the website here.
  3. Eligible staff will receive information about the Options Exercise in their Options Pack, and will be directed to the new online material. It is important they read the latest information to help them understand what the Options Exercise will mean for them. You may wish to undertake your own internal communications activity to promote the material to ensure they understand the process. Please direct your staff to the online information and do not provide your own communications.
  4. Thew new Options Exercise communications products are:

    -   An Options Exercise calculator, which eligible members can use with information given to them in their Options Pack.
    -   An Options Exercise video, which will give eligible members an overview of the Options Exercise and the choice they will be asked to make. We will also publish a storyboard of the video and a text only version of the script.
    -   An Options Exercise factsheet, which shows a timeline of the Options Exercise.
    -   Updated FAQs to answer any questions members may have about the Options Exercise.
  5. We recognise that not all employees have access to a PC, so we have published the communications in formats that are easy to print off if required.
  6. Please note that to use the calculator and video you will need certain IT settings enabled. Please see EPN395 for more information.

Contact

If you have a question about the distribution of EPNs or you need to receive them in a different format contact employerpensionnotice@cabinet-office.gsi.gov.uk.

You can find electronic copies of the Employer Pension Guide, all current EPNs and forms on our website.

This notice is for employers and should not be issued to scheme members.

If members have a question about their pension they can find information on this website or by contacting your Pension Service Centre.