Changes to partial retirement for NHS members
From 1 October, changes to the pension scheme will make it possible for all NHS members to take partial retirement. Members who are in the 1995 section will now be able to take their pension and work flexibly. This is already open to members of the 2008 and 2015 sections of the scheme.Members will also be able to take more of their pension when they partially retire. From normal minimum pension age, which is 55 for most members, they will be able to take between 20% to 100% of all their pension benefits, without leaving their current job.
Member webinars launched: Are you ready for retirement?
We are launching pilot webinar series for members planning to retire in the next 12 months. Our ‘Ready for Retirement’ webinars are available for NHS, Teachers and Fire scheme members. For Police scheme members, we will contribute to the existing pre-retirement seminars provided by Police Scotland.
Building a better SPPA – Our Annual Business Plan 2023/2024
We’re setting out our priorities and plans for the 2023/24 year in our Annual Business Plan.
UK Budget announcement on Lifetime Allowance and Annual Allowance tax
In the latest UK Government budget on 15 March the Chancellor announced that the Lifetime Allowance will be abolished the Annual Allowance will increase from £40,000 to £60,000. These changes will come into effect on 6 April 2023.
Our 2023 Charity Partner
We are proud that our colleagues have chosen to support Children’s Hospices Across Scotland (CHAS) as our charity partner for 2023.
McCloud/Sargeant and the 2015 Remedy pension calculators
The SPPA is pleased to advise that a retirement calculator for the McCloud/Sargeant and 2015 Remedy is available for use on our website.Who is affected by McCloud/Sargeant and the 2015 RemedyIf you joined a public sector pension scheme on or before 31 March 2012 and you were still a member on or after 1 April 2015, and had continuous service you will be eligible for the 2015 Remedy. This includes members who left but returned within 5 years to the same or another public service pension scheme.
Contract for new pension administration/payroll solution
The Scottish Public Pensions Agency (SPPA) today announced the intention to award a contract to Heywood Pension Technologies (HPT) for the supply of a new integrated pensions IT system, subject to a mandatory standstill period. Chief Executive David Robb said:
NHS Scotland Coronavirus Life Assurance Scheme
Scottish Ministers established a special temporary scheme that provided death in service benefits for relevant persons working for, or providing services on behalf of, an NHS Scotland Health Board, Special Health Board, NHS National Services Scotland (Common Services Agency) and Healthcare Improvement Scotland, called the NHS Scotland and Social Care Coronavirus Life Assurance Scheme 2020.
Changes to Commutation provision in the Police Pension Scheme 1987
From 1 April 2022, we are changing how retirement lump sums are calculated for 1987 Scheme members who are aged 50 or over and have between 25 and 30 years’ service. Currently, these members can commute up to 2.25 times their annual pension. This is being changed so they can commute up to 25% of their annual pension instead. This change will not apply retrospectively to retirements pre 1 April 2022.
Cyber Security Resilience
In line with guidance being provided to other UK governmental agencies and departments, the SPPA is highlighting a need to increase cyber security resilience in response to potential malicious incidents related to tensions in Ukraine. We are reaching out to our suppliers and raising awareness on our external channels using the following message: