Following the judgment of the Court of Justice of the European Union (CJEU) last month, we have started to write to capped members who we believe are affected by the ruling. This is to confirm our records, because we do not have all the data we need to calculate the increase due. We will be writing in tranches over the coming weeks, so members who believe they are affected, but do not receive a letter immediately, do not need to contact us.
The pensions industry demonstrated its positive response to our contingency planning guidance, at an event attended by over 80 trustees and advisers in central London on Tuesday this week.
Our members are our number one priority and we exist to protect your financial future. We want to know what matters to you, your views on the service we offer and your thoughts about changes we could make in future.
Following the successful inaugural meeting of the SME Forum earlier this year, we were really pleased to get together with Forum members again in September for some interesting and, it’s fair to say, at times challenging discussions.
This year’s International Women’s Day theme was #BreakTheBias, and yesterday we held a hybrid event for employees to discuss some of the stereotypes, discrimination and bias women often face at work. The event was hosted by our Chair, Kate Jones.
Here you'll find all the necessary valuation guidance and factors that were valid for previous periods. Please use the links below: Valuation guidance valid for previous periods
The circumstances in which early payment is possible are set out in Regulation 2 of the Pension Protection Fund (Compensation) Regulations 2005. Pension compensation calculation The amount of pension compensation payable early is calculated according to the table in the link below. This applies to all compensation determinations for early retirement with an effective date on or after 1 October 2022.
The Pension Protection Fund (Compensation) Regulations 2005 permit the postponement of compensation and any separate lump sum in specified circumstances up to age 75. Pension compensation calculation The amount of pension compensation, payable late, is calculated according to the table in the link below:
The assessment period starts with a qualifying insolvency event. You must file notice of the insolvency – an S120 notice – within 14 days of your appointment or of becoming aware of the existence of the pension scheme. Without that, it’s not possible to make a start on the work that needs to be completed during the assessment period. By law, we exercise the trustees’ rights against the employer during the assessment period. So we need to know about the insolvency as soon as possible.
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