This is a reminder that members impacted by 2015 Remedy (McCloud) who had alpha service between 2015 and 2022 will receive a 2022/23 PSS by 6 October 2024 if they are eligible.
The distribution of paper PSS will be completed by the legislative deadline of 6 October 2023.
PSS Management Information (MI) (including indicative MI on who will receive a PSS) has now been provided.
To note that members impacted by the 2015 Remedy (McCloud) will receive a 2022/23 PSS by 6 October 2024 if they are eligible.
To be aware of the dedicated PSS page and to promote these to your members.
To help members get the right support if they have any queries.
Each year we issue a PSS to members who meet one or more of the following criteria:
-They have exceeded the Annual Allowance limit of £40,000* (for 2022/23).
-They earn over £100,000.
-They have requested a PSS.
* Please note, high income individuals may be subject to a tapered Annual Allowance. Information and guidance on how to calculate tapered Annual Allowance can be found on HMRC’s website.
PSS to members NOT impacted by 2015 Remedy (McCloud)
We were anticipating that more alpha members would exceed their Annual Allowance for the 2022-23 tax year, compared to previous years.
Please be assured that if a member who is not affected by the 2015 Remedy (McCloud) exceeds their Annual Allowance limit, they will be issued with a PSS by 6 October 2023.
PSS to members impacted by 2015 Remedy (McCloud)
Members who had alpha service between 2015 and 2022 will receive a 2022/23 PSS by 6 October 2024 if they are eligible.
This is because their service during that period will be adjusted, or 'rolled back' into their relevant legacy scheme, resulting in changes to the Pension Input Amounts (PIAs) for that period.
As a result, the information contained in their 2022/23 PSS may not be accurate.
The Scheme Administrator will recalculate the PIAs for the 2022/23 tax year and will issue a PSS to each affected member by 6 October 2024.
Management Information (MI)
The Scheme Administrator has provided indicative PSS MI to employers recently. Indicative PSS MI is provided to help you determine if you would like to arrange any tax awareness sessions for members who receive a PSS. Please note this is not a mandatory requirement.
Complete and member specific PSS MI has also been issued to all employers.
If you believe members who earn over £100,000 and who are not impacted by the 2015 Remedy (McCloud) are missing from the PSS MI, please let us know and we will check our records.
Support for employers
Once you have reviewed the member specific MI, it is important that you work promptly with the Scheme Administrator to ensure all eligible members receive their statements by the regulatory deadline.
Please visit the dedicated PSS page for information.
Employers can contact the Scheme Administrator using the dedicated email address: SEABS@mycsp.co.uk.
Please do not send individual member queries to this e-mail address.
Information and other support for members
There is lots of information available for members on the dedicated PSS pages on the Civil Service Pensions website.
For information about how to book a session, please visit the MyCSP training web pages. The sessions will be delivered by webinar and telephone. More information can be found on the website.
PSS query handling process
We recommend that members submit PSS queries using the Contact Us form on our scheme website.
Again, members can play a crucial role in ensuring that their queries are dealt with as quickly as possible. Queries about general pension scheme information should be directed to the Scheme Administrator - the most effective way to do so is using the Contact Us form available on our website.
Queries regarding personal information, such as changes to personal details or employment history, should be directed to the member’s HR or shared service function.
If you have a question about the distribution of EPNs or would like to receive them in a different format, please contact EPN@MyCSP.co.uk.