Teacher pensioner newsletter July 2024
Welcome to the first ever edition of our annual newsletter for pensioner scheme members.
This newsletter is all about you and your pension journey. Whether you're curious about your pension benefits, want to stay in the loop about recent changes, are interested in other member stories or need some handy tools and advice, we've got you covered.
We’d also like to gather more information about our members’ lives and how they feel about their pension and the SPPA, so please do share your views in our new annual member survey.
We hope you find this newsletter helpful. Please feel free to feedback using the ‘was this information useful’ button at the bottom of the page.
Remedy
The 2015 Remedy is a hot topic for many of our members. This year, we’re asking all eligible members to pick between different pension benefits for what’s called the Remedy period (1 April 2015 to 31 March 2022). In some cases, it means your pension may increase.
- If you’re not sure what the Remedy is or want to check if you are eligible. – find out more here.
- Fully informed, but want to know when you will receive your Remedy choice? Find our timelines here.
- We also have explainers for members who have already received their Remediable Service Statement.
What is a Remediable Service Statement or RSS?
It’s a bit of a mouthful we know, but really, it’s just the letter you’ll get which will ask which pension benefits you would like to choose for the Remedy period. Your letter will be totally personalised to you – it'll have information about your annual pension, your lump sum and any dependant’s pension.
P60s now available
Your annual P60 is a summary of the pension paid to you over the year, including tax deducted. You can view your most recent P60 (or any previous ones), as well as your monthly pension payslips, on our online member portal.
2024 annual pension increase
Pensions increase every year in line with inflation. That means from 8 April 2024, an increase of 6.7% was applied to the pensions of all eligible members.
The pension increase is payable to members who have reached age 55, or for those under age 55 who retired due to ill health. Members who receive a widow/er or dependant’s pension are also eligible.
Cost of living support Scotland
It can be difficult balancing the budget as the cost of living continues to rise, but there is advice and support out there.
Cost of living support Scotland is a brilliant hub for this type of information. There is general information on debt advice and budgeting, as well as specific resources available for older people.
Member engagement survey
We’re on a mission to better understand and support our members. Please take ten minutes to fill out our engagement survey, it covers topics such as how you feel about your pension and finances, and the type of information you’d like to get from us.
Staying connected
Our online portals
Sign up to our online member services to view your pension information (including your P60 and monthly payslips) and update your personal details if you have a change of circumstances.
Customer support
Find out how to contact the team about specific subjects.
Website
Our website has a wealth of information about all things pension-related.