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).
15 July 2021
Cost Control Mechanism and Discount Rate Methodology Consultations Launched HM Treasury published two public consultations on 24 June 2021, seeking views on proposals to make changes to the cost control mechanism in public service pension schemes, and secondly on the appropriate methodology for setting the discount rate used in scheme valuations. The consultations will run for eight weeks and are available to view at the links below: Cost control mechanism
02 July 2021
Annual Benefit Statements (ABS) will be available by 31 August for active pension scheme members (active means you’re currently contributing to the pension scheme). You can view your ABS by registering for our online services if you haven’t already done so. Your ABS will supersede all previous statements and provide you with an estimate of accrued benefits to 31 March this year. As such, we will not be accepting requests to review previous statements.
11 June 2021
Mandatory Scheme Pays (MSP) The deadline for Mandatory Scheme Pays applications for 2019/20 is 31 July 2021. All applications must be received by SPPA on or before this date, any received after the deadline will only be treated as Voluntary Scheme Pays. The minimum Mandatory Scheme Pays application is £2,000. Voluntary Scheme Pays (VSP)
09 June 2021
We only accept requests for Pension Savings Statements (PSS) from Financial Advisors and Accountants either singly or as a bulk request on the SPPA template only. All other request types concerning Annual Allowance (including requests for additional Pension Input Amounts) or Scheme Pays must come directly from the member. Bulk Requests