Already retired

If you have already retired, Remedy may still affect your pension benefits.

In some cases, your benefits for the Remedy period will be reviewed and, where applicable, adjusted.

If this applies to you, we will contact you directly to explain what this means and whether you need to take any action.

What we may need to review

If you’re affected, we may need to review your pension benefits for the Remedy period and compare how those benefits would apply under different scheme arrangements.

For Civil Service Pension Scheme members, the comparison is usually between benefits based on legacy scheme membership, known as PCSPS, and benefits based on alpha.

The impact will depend on your individual circumstances. This could include when you retired, which benefits you took, whether you took partial retirement before full retirement, and whether your pension record includes other factors such as added pension, transfers, pension sharing orders or Scheme Pays debits.

What happens next

If your pension is affected, we’ll contact you directly.

We’ll explain what has been reviewed, whether your benefits are changing, whether any action is required and what happens next.

If a decision is needed, we’ll provide information to help you understand the options available. We cannot recommend which option is best for you, but we’ll explain how the options affect your pension benefits.

If no decision is needed, we’ll confirm this.

Payments, adjustments and tax

In some cases, a review may lead to a change in pension benefits or a payment adjustment.

Where this applies, we’ll explain how the revised calculation has been worked out and what it means for you.

Remedy can also affect pension tax information for some members. Current CSPS guidance explains that Pension Input Amounts are being recalculated for members affected by rollback, and that Remedy Pension Savings Statements may replace previously issued Pension Savings Statements where relevant.

Not all members will be affected by tax changes. If tax information applies to you, we’ll provide further guidance.

What you need to do

You do not need to contact us unless we ask you to.

If we send you a statement, decision pack or updated pension information, read it carefully. It will explain whether you need to respond and what deadline applies.

If you’re unsure about the financial or tax impact of any decision, you may wish to consider independent financial advice.