Further to EPN470 on 9 November, which notified members of the changes to the Civil Service Compensation scheme, we have produced further guidance and additional tools for members who may be leaving under an Exit scheme.
A new What to Expect guide provides information for members who may be considering using their compensation and/or their own funds to buy out some or all of the reduction in their pension caused by early payment. This helpful guide contains information about the compensation choices available to members, as well as who does what and how long it takes for members buying out the reduction in their pension benefits.
A new buy-out calculator has also been produced to help members calculate the cost of buying out the reduction in their pension benefits. This is now available in the Calculators section on the Civil Service Pensions scheme website at www.civilservicepensionscheme.org.uk/members/civil-service-compensation-scheme-for-members/cscs-calculators/.
If you have any questions please contact firstname.lastname@example.org