Date posted: 01/02/2009
Audience: This Notice will be of particular interest to:
- HR and Communication Managers and all staff responsible for dealing with Added Pension contracts and enquiries from members
- Issue the attached Office Notice to all staff who are members of the Civil Service pension scheme. (Please insert the details of your pensions administrator where requested to do so, before you release the notice.)
- Remind your payroll provider to expect added pension instructions from your pensions administrator
- Members who wish to pay extra to top up their benefits in any of the classic, classic plus, premium or nuvos sections of the Civil Service pension scheme can buy Added Pension. EPNs 177 and 193 refer. The attached Office Notice reminds members to apply now, and includes the appropriate application form.
- Added Pension can be bought by either a lump sum or by monthly contributions. In both cases, the contributions made in any scheme year (April to March) are converted into Added Pension at the end of the year (31 March) and then receive index-linking, when appropriate. This is done at the beginning of every April by reference to the Retail Prices Index (RPI) for the previous September.
- Members who wish to pay by monthly contribution can only start from 1 April. They must, therefore, apply to your pensions administrator in time for them to process the application form and tell your payroll to start deductions from the April pay run.
- Members who wish to buy added pension by lump sum before the end of the scheme year must ensure that their application and payment are received by the pensions administrator in time for the money to be banked by 31 March.
- The Office Notice applies to members who have been in service for more than 12 months; the rules vary for new entrants. We have highlighted this in the text and advised new entrants to contact their pensions administrator for advice on eligibility.
- Please issue the notice as soon as possible and remind your payroll to expect added pension instructions from your pensions administrator.
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Civil Service Pensions