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:

NHS

Myth 1: If I want to take my 1995 scheme pension at age 60 or my 2008 pension at age 65, I need to retire before April 2022. 

FALSE 

After you have transitioned to the CARE scheme on 1 April 2022, you will still be able to retire at the retirement age set out in your final salary scheme (age 60 for the 1995 scheme or age 65 for the 2008 scheme). 

Retiring at your final salary schemes normal retirement age means you would receive;

  • Your final salary pension up to 31 March 2015, including any tax free lump sum that you are entitled to;
  • The choice of pension between final salary or CARE for pension built up between 1 April 2015 and 31 March 2022, and;
  • Any CARE pension from 1 April 2022 until your retirement date.

If you decide to retire at your final salary schemes normal retirement age, the CARE portion of your pension built up after 1 April 2022 would be reduced to take account of the early settlement. However, you will be able to defer this portion of your pension benefits until your state pension age to ensure you don’t receive any reduction on these benefits. 

This reduction is a percentage based on how many years you are from your state pension age. 

Myth 2: If I move into the 2015 CARE scheme when my final salary scheme closes, I will lose the rights to my 1995 or 2008 scheme final salary pension.

FALSE 

When you transition into the 2015 CARE scheme on 1 April 2022, you will still have access to all of your final salary benefits in the 1995 or 2008 schemes, and no changes will be made to these benefits by SPPA. 

You will be given the choice of your final salary or CARE scheme benefits for the period between 1 April 2015 and 31 March 2022 and an estimate will be provided for each of these schemes to ensure you choose the most beneficial option for you. 

The benefits you’ve built up in your final salary scheme prior to 1 April 2015 will be calculated using the legacy scheme rules, meaning you won’t lose anything when you retire. 

Myth 3: If I move into the CARE scheme when my final salary scheme closes, I won’t receive a tax-free lump-sum when I retire.

FALSE 

The rules around tax-free lump-sums are not changing and you will still be able to enjoy access to a tax-free lump-sum from your final salary and CARE pension schemes when you decide to retire
 

Teachers

Myth 1: If I want to take my Scottish Teachers’ Superannuation scheme pension at 60 or 65, I need to retire before 1 April 2022. 

FALSE 

After you have transitioned to the CARE scheme on 1 April 2022, you will still be able to retire at the retirement age set out in the teachers’ superannuation scheme (age 60 if you joined prior to 1 April 2007 or age 65 if you joined on or after 1 April 2007).  

Retiring at your final salary schemes normal retirement age means you would receive;

  • Your final salary pension up to 31 March 2015, including any tax free lump sum that you are entitled to;
  • The choice of pension between final salary or CARE for pension built up between 1 April 2015 and 31 March 2022, and;
  • Any CARE pension from 1 April 2022 until your retirement date.

If you decide to retire at your final salary schemes normal retirement age, the CARE portion of your pension built up after 1 April 2022 would be reduced to take account of the early settlement. However, you will be able to defer this portion of your pension benefits until your state pension age to ensure you don’t receive any reduction on these benefits. 

This reduction is a percentage based on how many years you are from your state pension age. 

Myth 2: : If I move into the 2015 CARE scheme when my final salary scheme closes, I will lose the rights to my Scottish Teachers’ final salary pension.

FALSE 

When you transition into the 2015 CARE scheme on 1 April 2022, you will still have access to all of your final salary benefits in the Scottish Teachers’ Superannuation Scheme, and no changes will be made to these benefits by SPPA.  

You will be given the choice of your final salary or CARE scheme benefits for the period between 1 April 2015 and 31 March 2022 and an estimate will be provided for each of these schemes to ensure you choose the most beneficial option for you. 

The benefits you’ve built up in your final salary scheme prior to 1 April 2015 will be calculated using the legacy scheme rules, meaning you won’t lose anything when you retire. 

Myth 3: If I move into the CARE scheme when my final salary scheme closes, I won’t receive a tax-free lump-sum when I retire.

FALSE 

The rules around tax-free lump-sums are not changing and you will still be able to enjoy access to a tax-free lump-sum from your final salary and CARE pension schemes when you decide to retire
 

Police

Myth 1: If I want to take my 1987 scheme benefits after 30 years’ service or my 2006 pension after 35 years’ service, I need to retire before 1 April 2022. 

FALSE 

After you have transitioned to the CARE scheme on 1 April 2022, you will still be able to retire at your maximum service which is set out in your final salary scheme (30 years for members under 50 or 25 years for members over 50 in the 1987 scheme or 35 years for members in the 2006 scheme). 

Retiring at your final salary schemes normal retirement age means you would receive;

  • Your final salary pension up to 31 March 2015, including any tax free lump sum that you are entitled to;
  • The choice of pension between final salary or CARE for pension built up between 1 April 2015 and 31 March 2022, and;
  • Any CARE pension from 1 April 2022 until your retirement date.

If you decide to retire at your final salary schemes normal retirement age, the CARE portion of your pension built up after 1 April 2022 would be reduced to take account of the early settlement. However, you will be able to defer this portion of your pension benefits until your state pension age to ensure you don’t receive any reduction on these benefits. 

This reduction is a percentage based on how many years you are from your state pension age. 

Myth 2: If I move into the 2015 CARE scheme when my final salary scheme closes, I will lose the rights to my 1987 or 2006 scheme final salary pension.

FALSE 

When you transition into the 2015 CARE scheme on 1 April 2022, you will still have access to all of your final salary benefits in the 1987 or 2006 schemes, and no changes will be made to these benefits by SPPA. 

You will be given the choice of your final salary or CARE scheme benefits for the period between 1 April 2015 and 31 March 2022 and an estimate will be provided for each of these schemes to ensure you choose the most beneficial option for you. 

The benefits you’ve built up in your final salary scheme prior to 1 April 2015 will be calculated using the legacy scheme rules, meaning you won’t lose anything when you retire. 

Myth 3: If I move into the CARE scheme when my final salary scheme closes, I won’t receive a tax-free lump-sum when I retire.

FALSE 

The rules around tax-free lump-sums are not changing and you will still be able to enjoy access to a tax-free lump-sum from your final salary and CARE pension schemes when you decide to retire
 

Firefighters

Myth 1: If I want to take my 1992 scheme benefits at age 50 or after 30 years’ service or my 2006 pension at age 60, I need to retire before 1 April 2022. 

FALSE 

After you have transitioned to the CARE scheme on 1 April 2022, you will still be able to retire at the normal pension age or the maximum service set out in your final salary scheme (Age 55 or 30 years’ service in the 1992 scheme or age 60 for members in the 2006 scheme).  

Retiring at your final salary schemes normal retirement age means you would receive;

  • Your final salary pension up to 31 March 2015, including any tax free lump sum that you are entitled to;
  • The choice of pension between final salary or CARE for pension built up between 1 April 2015 and 31 March 2022, and;
  • Any CARE pension from 1 April 2022 until your retirement date.

If you decide to retire at your final salary schemes normal retirement age, the CARE portion of your pension built up after 1 April 2022 would be reduced to take account of the early settlement. However, you will be able to defer this portion of your pension benefits until your state pension age to ensure you don’t receive any reduction on these benefits. 

This reduction is a percentage based on how many years you are from your state pension age. 

Myth 2: If I move into the 2015 CARE scheme when my final salary scheme closes, I will lose the rights to my 1992 or 2006 scheme final salary pension.

FALSE 

When you transition into the 2015 CARE scheme on 1 April 2022, you will still have access to all of your final salary benefits in the 1992 or 2006 schemes, and no changes will be made to these benefits by SPPA.  

You will be given the choice of your final salary or CARE scheme benefits for the period between 1 April 2015 and 31 March 2022 and an estimate will be provided for each of these schemes to ensure you choose the most beneficial option for you. 

The benefits you’ve built up in your final salary scheme prior to 1 April 2015 will be calculated using the legacy scheme rules, meaning you won’t lose anything when you retire. 

Myth 3: If I move into the CARE scheme when my final salary scheme closes, I won’t receive a tax-free lump-sum when I retire.

FALSE 

The rules around tax-free lump-sums are not changing and you will still be able to enjoy access to a tax-free lump-sum from your final salary and CARE pension schemes when you decide to retire

 

Where can I find out more information?

The SPPA website is the best source of information relating to the 2015 Remedy for our members and the Frequently Asked Questions section is always being updated with new and relevant FAQs.