Avoid Pension Scams
04 September 2019
The Financial Conduct Authority (FCA) and The Pensions Regulator (TPR) are joining forces again this summer to warn the public about fraudsters targeting people’s retirement savings. This warning comes as new research suggests that 42% of pension savers, which would equate over 5 million people across the UK, could be at risk by pension scammers. Research found that those who consider themselves smart or financially savvy are just as likely to be persuaded as anyone else. Four simple steps to protect yourself from pension scams:
Court of Appeal Judgment - Armed Forces Compensation Scheme
23 July 2019
The Court of Appeal has recently upheld an appeal by Mrs Jane Langford, the unmarried partner of Air Commodore Green who died in 2011. Under the rules of the Armed Forces Compensation Scheme (AFCS), Mrs Langford was unable to claim an unmarried partner benefit from the AFCS as she remained married at the time of AC Green’s Death. The Court of Appeal has ruled Mrs Langford should be eligible to receive benefits.
Annual Allowance 2018-19
10 July 2019
Your guide to Annual Allowance provisions for the 2018/19 tax year (for General Medical Practitioners 2017/2018 tax year) The amount of tax relief on pension contributions is limited to an Annual Allowance of £40,000 in each tax year – with further ‘tapered’ reductions for people who earn over £110,000.
Changes to Survivor Benefits
02 July 2019
SPPA is undertaking an exercise to identify any pensions paid to survivors of same sex marriages or civil partnerships and review those where the scheme member had pre 1988 (1990 in the police) service that was not used in the award. SPPA will contact individuals whose survivor pensions have been revised to arrange for the revised rate and any arrears to be put into payment. For further information please see your pension scheme circular which can be found under Scheme Governance and Legislation - circulars. Date added 2 July 2019.
UK Government appeal rejected by Supreme Court
28 June 2019
Scottish Ministers respect the decision of the Supreme Court to refuse the UK Government’s appeal in the McCloud and Sargeant cases. Occupational pensions policy is reserved to the UK, and the UK Government is now required to make remedial proposals to the Employment Tribunal. We will publish more information as it becomes available. In the meantime, SPPA will continue to administer pension schemes in line with the existing regulations. Background
Mixed Sex Civil Partnerships
26 June 2019
The Scottish Government announced on 25 June 2019 that it will introduce legislation both in the Scottish and UK Parliaments that will extend the availability of civil partnership to mixed sex couples. The date mixed sex civil partnerships will be available will be determined by the legislative timetable but SPPA will introduce changes to scheme regulations to reflect the change when introduced.
Auditor General for Scotland’s s23 report on the Scottish Public Pensions Agency
25 June 2019
On 25 October 2018, the Public Audit and Post Legislative Scrutiny Committee considered the Auditor General’s initial section 22(3) report on the implementation of a new IT system for SPPA. Because of ongoing discussions between SPPA and the contractor that consideration was limited to financial aspects. On 25 June, the Auditor General published a section 23 report which highlights key messages critical of how the IT project was managed and again detailing the associated costs.
Annual Benefit Statement 2019
12 June 2019
NHS and Teacher Members SPPA is currently working on a bulk exercise to produce Annual Benefit Statements (ABS) for all eligible members for the year ended 31 March 2019. These will be available online via our member portal My Pension – Online Member Services from 31 August 2019. During this period SPPA are not in a position to produce any missing or revised 2018 ABS and the 2019 ABS will supersede previous information.
Tax Rates 2019/20
09 April 2019
For 2019 to 2020 the basic Personal Allowance will be £12,500 per year. Scottish Income Tax rates This table shows the Scottish Income Tax rates you pay in each band if you have a standard Personal Allowance of £12,500 and your main residence is in Scotland. You do not get a Personal Allowance if you earn over £125,000.
EU Exit
18 March 2019
There remains uncertainty about the UK withdrawal from the European Union. While clarity around how and if this will happen is still needed, we understand you may have questions or concerns around how EU exit will affect you. The mygov.scot website provides information about the UK's possible exit from the European Union and how it may affect people and businesses in Scotland. Please continue to check back as this page is updated with information and any advice we can provide. Published on 18 March 2019