Members who would usually expect to receive a PSS and are impacted by the 2015 Remedy (McCloud) will not receive a 2022/23 statement just yet, instead it will be issued by 6 October 2024. This is with the exception of members who were fully protected and did not join alpha until 1 April 2022.
On 1 October 2023, the pensionable service of eligible Remedy affected members was 'rolled back' into their’ relevant Legacy scheme (classic, classic plus, premium or nuvos) for the Remedy period (1 April 2015 to 31 March 2022) which will likely result in changes to members’ Pension Input Amounts (PIA).
We are recalculating the PIAs for all members affected by rollback. A PSS for the Remedy period and for the 2022/23 tax year will be issued to those members by 6 October 2024 and will replace any previously issued PSS.
For members who were protected and did not join alpha until 1 April 2022, there is no change to their Remedy period of service as they have not needed to be rolled back into their Legacy scheme. The PSS for eligible protected members, for the 2022/2023 tax year, has been issued as normal.
Members who exceed their Annual Allowance or earn over £100,000 and are not affected by the 2015 Remedy (McCloud), were issued with a 2022/23 PSS as normal.
The deadline to ask the scheme to pay all, or part, of an Annual Allowance tax charge (a scheme pays election) for 2022/23 has been extended to 6 July 2025, unless you were a pensioner on 1 October 2023 in which case the deadline is 8 July 2027.
When the PSS is issued, members will need to report this through an electronic form at www.gov.uk/guidance/calculate-your-public-service-pension-adjustment.
If due to the Remedy, there are changes to the amount of Annual Allowance for earlier years then members should also report this to HMRC using the electronic form, not amend any previously submitted Self-Assessment tax return. However, members will only be able to use this service once they have received their 2022/23 PSS and any revised PSS for an earlier tax year.
Members who have been rolled back into their Legacy section from alpha, should not include information relating to an Annual Allowance tax charge deriving from their impacted public sector pension scheme on their 2022/23 Self-Assessment return.
If you're affected by 2015 Remedy (McCloud) and are due a PSS for 2022/23 you will not receive a 2022/23 statement just yet, instead it will be issued by 6 October 2024. This is with the exception of members who were fully protected and did not join alpha until 1 April 2022. The PSS for eligible protected members, for the 2022/2023 tax year, has been issued as normal.
If any of your personal details have changed, please update them via the Pension Portal. If you don't have access you can Register, or complete our Change of details form.
Our records show that you are impacted by Remedy (add a link to explain what remedy is) and received a Pension Savings Statement during the Remedy period.
Your Pension Input Amounts during the Remedy period and 2022/23 have therefore been recalculated.
Your revised PIA have been recalculated based on legacy service up to 31/03/2022 and alpha service from 01/04/2022
No, your PIA will only be recalculated once. At retirement you will be given two options in respect of your Remedy service, we will calculate your PIA based on which option calculates the lower PIA irrespective of the option you take.
Yes, you can still retire before you have taken action in regards to any outstanding tax charges. You can still use scheme pays after you have retired, for any additional tax charge, and any necessary adjustments to your pension can be made after you have applied for this.
If your tax charge has lowered and the scheme pays debits reduced this will also be adjusted.
Previous PSS where issued based on the data held at the time, you may have queried some of the data that caused you to breach previously and this has now been corrected. Our records do however still show that you received a PSS.
If you did not have a tax charge previously and still do not, there is no action you need to take.
These will be offset against any new tax charge. If you no longer have a charge, you could be due compensation and the HMRC will inform you if this is the case.
Out of scope years (now called Compensation Period) - 2015-2016, 2016-2017, 2017-2018, 2018-2019
In scope years (now called Tax Administration Framework) - 2019-2020, 2020-2021, 2021-2022
Out of scope years (now called Compensation Period) - 2015-2016, 2016-2017, 2017-2018, 2018-2019
In scope years (now called Tax Administration Framework) - 2019-2020, 2020-2021, 2021-2022
The Pension Portal is a convenient and quick way to manage your pension. Inside your secure Pension Portal account, you can view and print copies of your P60 and payslips, look up the yearly Pensions Increase and update your personal details.
Registering for your account is easy, just follow our step by step guide or watch the video