Tuesday, 18 October 2011 14:52
After 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.
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.
Thursday, 08 September 2011 14:56
If 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.
Friday, 26 August 2011 10:43
SPPA has recently published Newsletters for all NHS and STSS Employers.
Topics covered include Pension Reforms Update, Information on Tax and Auto-enrolment aswell as a reminder of recently issued Circulars.
Follow these links to view the Newsletters
Tuesday, 19 July 2011 13:36
In response to the UK Government's announcements on increasing public service pension contributions and the recent report by Lord Hutton of Furness, The Scottish Government's Finance Secretary, John Swinney, made a Parliamentary Statement on public sector pensions reform on 22nd June 2011.
Wednesday, 20 April 2011 13:43
As result of the Budget of 23rd March 2011, HM Treasury has confirmed that they are considering a review of the basis for the calculation of Cash Equivalent Transfer Values (CETV) payable from public service schemes, including the NHS and Teachers schemes.
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