Your guide to our optional service charges

SPPA provides a range of optional services to scheme members and employers that attract a charge. Details of these services and their costs are outlined below.

Type

SPPA Activity

Detail

Charge

1

Member request for pension estimate.

Charge applies for multiple requests or additional request within 12 months.

£51 plus VAT.
2

Member request for Cash Equivalent Transfer Value.

First request is FREE. Second request within 12 months is charged.

£308 plus VAT.

3

IFA request for pension estimate.

Charge applies for multiple requests or additional request within 12 months

£51 plus VAT.

4

Request for Cash Equivalent Transfer Value from IFA.

Charge applies for multiple requests or additional request within 12 months.

£308 plus VAT.

5

Requests for references and confirmation of income.

 

£25 plus VAT.

6

STSS Capitalisation.

Any request for Capitalisation. Charge is per capitalisation event.

£308 plus VAT.

7

STSS Reg E34 Capitalisation.

Any request for Capitalisation.

£410 plus VAT.

8

Payroll charity collection.

This charge is normally fixed.

2% charge.

9

Charge to employers for one off tasks such as making redundancy calculations.

Charge made for ad hoc tasks which are not core business for SPPA.

A full cost charge should be applied for bulk, one-off tasks.

Hourly charges to be applied.
10

Responding to Data Protection requests.

SPPA are permitted, in limited circumstances to levy a 'reasonable fee' if a request is considered 'manifestly unfounded or excessive (particularly if it is repetitive)'. The fee is then based on the administrative cost of providing or amending the information. No charge, except in limited circumstances.
11

Request for duplicate P60.

 

£10 plus VAT.

12

Request by member to change their mind on the level of lump sum commutation following submission of pension application but prior to payment.

Member is not permitted to change their mind once the lump sum or first pension payment is paid.

£100 plus VAT.

 

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