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Latest News

Consultation on Employee Contribution Rate Increases – Draft Amendment Regulations

Thursday, 22 December 2011 15:02

consultationsThe consultation on increasing employee contribution rates in 2012-13 ended on 17th November 2011.  Responses from that consultation have been reviewed and considered and we are now consulting on draft regulations which outline the proposed contribution rates for 2012/13.

Read more: Consultation on Employee Contribution Rate Increases – Draft Amendment Regulations

 

Membership during Industrial Action

Friday, 25 November 2011 13:48

Advice regarding NHS and STSS membership during periods of Industrial Action has now been added to this site.

 

Suspension of Cash Equivalent Transfer Value Calculations

Friday, 04 November 2011 12:39

Important InformationOn 26th October 2011, HM Treasury issued revised guidance for the calculation of CETV's payable from public sector schemes. The guidance is currently being considered by the Scheme Actuary.  As a result, the factors used to calculate transfer values and membership credits for schemes that do not participate in the Public Service Transfer Club, have been temporarily suspended. 

Read more: Suspension of Cash Equivalent Transfer Value Calculations

 

Annual Report and Accounts Published

Tuesday, 18 October 2011 14:52

annual accountsAfter being laid before the Scottish Parliament, SPPA has now published its Annual Report and Accounts for the year 2010-2011. This reporting period has delivered both success and challenge in equal measure. The Agency has continued to implement its multi-year programme of business change which aims to enhance the efficiency, quality and effectiveness of its core pensions administration service.

 

Auto-Enrolment

Monday, 26 September 2011 00:00

As people are living longer and likely to enjoy a longer retirement, the UK Govt is introducing Workplace Pension reforms. All the recommendations of the Independent Review on Workplace Pension reforms have been accepted and the Government is now taking these forward in the Pensions Bill 2011 which received Royal Assent in July 2011.     

One of the key changes being introduced is “Automatic Enrolment” which will be introduced from Autumn 2012 (implementation date from 1st October 2012).   

Automatic Enrolment is the core employer duty of work-based pensions reform. It means that employers must automatically place all eligible employees into their pension scheme and advise them that they have done so.  

Currently all employees who are eligible under scheme regulations (aged between 16 and 75 or aged 65 for special class members) are automatically included in the relevant section of the scheme unless they complete a form to opt out.  

Read more: Auto-Enrolment

 

About to Retire?

Thursday, 08 September 2011 14:56

paymentIf you are retiring as a member of the Teachers' or NHS scheme we would like to help you prepare by highlighting that pensions are paid on the last banking day of each month into your nominated bank account. Depending upon your date of retirement your first pension payment may only be for a part month. Further information

With regard to taxation issues we would advise that you contact HMRC to inform them that you are to be in receipt of a pension from the SPPA.

 

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