01 December 2021
The 2015 Remedy is a complex and significant change to those who are affected and we are aware of a number of myths currently circulating that are understandably making you nervous. These myths may also have you thinking about what you should do before the final salary schemes are closed to future pension build-up on 1 April 2022. To ensure that you have all the facts we have busted some of the myths that we've heard from both our members and their employers. Click on the appropriate dropdown box for your scheme to find out more:
18 November 2021
We have been working with Her Majesty’s Revenue & Customs (HMRC) to make sure that pension information we hold for members of our schemes matches their records. This work has identified that some pension payments from the SPPA have been incorrect. This relates to a part of the pension called Guaranteed Minimum Pension (GMP) and how the cost of living increases, known as index linking, have been applied to it.
28 October 2021
We are introducing Multi Factor Authentication (MFA) to the MyPension website on 3 November 2021. What is Multi-factor Authentication? MFA improves on traditional security methods by adding an extra step when logging in to an online account. Logging in with MFA involves:
26 October 2021
The Goodwin case identified that male survivors of opposite-sex marriages and civil partnerships are treated less favourably than survivors in same-sex marriages and civil partnerships. We are working on a method of calculating family benefits service to address this sexual orientation discrimination. Scheme rules will be changed to ensure that:
17 September 2021
You may have heard about McCloud/Sargeant or the 2015 Remedy in the news but never really understood what it meant or what impact it might have. In our last article of Pensions Awareness Week 2021, our Head of Regulatory Affairs, Iain Coltman shares an update on what McCloud is, what work we have been doing here at the SPPA as well as how you can find out more information on our website.
15 September 2021
Pensions can be complicated at the best of times - and with complex terminology, acronyms and initialism like LTA, CARE or GMP it often makes it harder to understand. Our website is our main point of contact for customers and members so in this article we’ll be sharing a few top tips on how to get the most out of using it and understand some of the terms we use throughout.
13 September 2021
It’s never too late or too early to start planning for retirement… The last year has brought change unlike anything we have experienced before. A 2020 survey by Money & Pensions Service found that one in ten people do not intend to plan their retirement finances at all and more than a third (36 per cent) of 50-70 year olds said their finances have been impacted by the Covid-19 pandemic.
10 September 2021
Pensions can sometimes be complex and difficult to understand - so next week for Pensions Awareness Week 2021, we’ll be running a series of articles here on our website to help you understand pensions better, how to get the most out of our website and plan better for your retirement. Did you know… A survey carried out by the Money & Pension Service in 2020 found that:
31 August 2021
The Scottish Public Pensions Agency have issued Annual Benefit Statements for all active members of the Scottish: NHS, Teacher, Police and Firefighter Schemes from 31 August 2021. NHS members The SPPA has produced and issued Annual Benefit Statements (ABS) for all eligible members for the year ending 31 March 2021. These are available online on our member portal.
18 August 2021
We are proud to announce the launch of our big summer fundraiser for our charity partner: The SAMH Three Peak challenge! At a combined height of nearly 4000ft, SPPA colleagues will be changing into their hiking boots and climbing three of the Scottish Borders’ most popular peaks – the Black Hill, the Eildons (North Hill) and Ruberslaw – on Saturday 21 August, all in support of SAMH (Scottish Association for Mental Health).