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EPN404 - 2015 Options Exercise – Options Pack Distribution

Audience:

This notice will be of interest to:

  • HR Managers;
  • and Pension Leads

Action:

Note the points of clarification about Options Exercise member list.

Timing:

Immediate

Information about Options Exercise member list return

As set out in the Eligibility and Enrolling Impact Document we have provided you with a list of staff who, according to the information held by the Scheme, are eligible for the Options Exercise and will receive an Options Pack. We asked you to check that the distribution list captured all staff who you believe are eligible for the Options Exercise. Thank you to those of you who have analysed the distribution list and raised queries by completing and returning the enquiry form to us at 2015Employers@cabinet-office.gsi.gov.uk 

We have set out below some clarifications about Options Exercise eligibility, which may address some of the queries raised. For those issues raised that are not covered here, we are investigating these and will respond to you directly.

  1. Exercise Comparison with data cleanse population
    There are differences between Data Cleanse and Options Exercise populations for the following reasons, all of which mean that it is expected that there will be some members that have been cleansed that are not eligible for a pack, and vice versa:

    a.) The data cleanse used a wider date of birth range. Eligibility for Tapered Enrolment requires a date of birth in the ranges of 2 April 1962  to 1 September 1965 (classic and premium excluding personal normal pension ages) and 2 April 1957 to 1 September 1960 (nuvos excluding personal normal pension ages). The data cleanse included members with birthdays on the 1 April and between 2 and 30 September. .

    b.) Timing. The data cleanse cut used to produce the packs was taken a significant time before the beginning of the Options Exercise so members will have left, joined etc.

    c.)The data cleanse only looked at age as the eligibility criteria for cleansing. The Options Exercise needed to consider the 2012 presence check and the member was required to be active for at least 1 day between 15 August and 30 September 2014.
  2. ‘Unknowns Exercise’
    Some members were part of the ‘unknowns exercise’ where MyCSP wrote to members requesting their public service pension history in order to determine if they satisfied the 2012 presence check condition. Employers will be unsighted on the results of this:

    a.) If members did not respond, they would be deemed ineligible for the Options Exercise.

    b.)If members responded and demonstrated that they did satisfy the condition then they would be included in the Options Exercise (assuming other criteria is met).
  3. Leavers
    Some members we have been informed have left but are still showing as active on the system. We can only work with the data held on system so if they are showing as active and satisfy the other eligibility criteria then they will be included in the Options Exercise. You must take action to ensure MyCSP is made aware of any leavers. If someone is due to leave then they should still receive an Options Pack.
  4. Public Service Pension
    History Some employers are including members who they have identified are eligible to be part of the Options Exercise because they were in another Public Service scheme or on a qualifying break on 31 March 2012. Please do not include these members in your Options Exercise member list return. We will tell you soon how to send this information to MyCSP.

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.