5.4.1 classic, classic plus, premium,nuvos and alpha members can opt to pay extra contributions to buy added pension. They can pay by lump sum or by monthly contributions from salary. Added pension replaced added years in 2008, but existing added years contracts could continue.
There is information for members on added pension on the Publications page of the website.
An annual reminder in the form of an Employer Pension Notice (EPN), with an application form, is issued in time for new monthly contributions from 1 April.
Added pension in alpha is bought in the new scheme, so is separate to any added pension bought in one of the PCSPS schemes. It is therefore subject to a separate maximum limit.
A member can have bought the maximum permitted amount of added pension in their PCSPS pension and then buy the maximum in the alpha scheme.
The maximum limits will be included in the annual EPN.
5.4.2 Members who go onto assumed pay (as detailed in 5.3.8) will have the choice to suspend their added pension contributions or reduce the amount of contributions to a rate determined by reference to their actual pay during that period. They must contact you, the employer, to discuss the impact of receiving assumed pay. It is the employer’s responsibility to process suspension requests, and if the member chooses to do so, this takes effect for the date they send their request.
If a member stops added pension contributions during the period of assumed pay, they may resume contributions in the next pay period after the period of assumed pay ends.
If a member moves from a period of assumed pay to no pay, you must suspend their added pension contributions. But the member can make cash payments equal to the contributions that would have been taken from their salary, had they not gone on to reduced pay. The member should contact the Scheme Administrator to do this.
Please note: There are considerations for members of classic, classic plus, premium, and nuvos who moved into alpha on or after 1 April 2015. If these members were buying added years or added pension by regular contributions as part of an ongoing option, they are able to continue buying in their previous scheme until they either:
choose to cancel,
or they reach the agreed end date of their option (e.g. they reach age 60 and their added years contributions must stop).
If they choose to cancel their added pension or added years contributions in their PCSPS scheme, they cannot be restarted. The member will keep the additional pension, or service they have bought to the point they cancel.
You can find more information on added pension (and continuing added years contracts) for members of alphahere.