Understanding pension entitlements is crucial for long-term financial planning according to the new Chief Executive of the Scottish Public Pensions Agency (SPPA) Stephen Pathirana.
Marking the start of Pensions Awareness Week, Dr Pathirana highlighted the range of tailored information, advice and guidance that the SPPA offers to over 600,000 individual members of schemes it administers for police, fire, NHS and teachers.
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He said: “Pensions Awareness Week begins today and is a great opportunity to engage with and learn just how important it is to understand your own pension scheme no matter how close to retirement you are.
“The SPPA is the pension administrator for a huge number of Scotland’s key public sector works, providing pensions for those who dedicate their careers to public service in education, health, policing, and fire and rescue. We offer comprehensive support at all stages of the pension journey – from joining a scheme or accessing retirement benefits. Our role is to make the process as straightforward as possible, ensuring that every member understands their pension entitlements and how to make the most of them.”
He continued: “Too often pensions are something we think about only as we near the end of our careers. But understanding and actively managing your pension earlier in life can lead to better financial outcomes and greater peace of mind in retirement. Throughout Pensions Awareness Week the SPPA will be sharing valuable insights, tips, and resources to help you take control of your pension planning. Our goal is to demystify pensions and support you to make informed decisions to benefit your financial future.”
To find out more about our four schemes you can visit the scheme sections on our website:
pensions.gov.scot/firefighters
Visit our LinkedIn to stay up to date with Pensions Awareness Week.