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Latest News

Lifetime Allowance Online Service

Tuesday, 05 July 2016 09:24

The online service for scheme members to apply for protection from the lifetime allowance tax charge will be available from the end of July 2016. The online service will also allow pension scheme members to view a history of their previous lifetime allowance protection details.

If members want to apply for lifetime allowance protection from the end of July 2016, or to view details of their protections they will need a HMRC Online Services Account. To create an account, or to login to an existing one, they should go to HMRC services: sign in or register

Members can find more information about the lifetime allowance and protections on GOV.UK.

Members who are not planning to take benefits before August 2016 should wait and apply for protection using the online digital service from the end of July 2016.

 

Customer Satisfaction Survey Results 2015

Thursday, 12 May 2016 12:04

customer_service_survey_logo

The results of our annual Customer satisfaction surveys are now available to view, your responses are vital in helping us identify ways of improving our service.

Thank you to all who took the time to respond.

 

NHS and Teachers Survey

Police Survey

Police Survey Summary

Firefighters Survey

Commitment to Customers

 

 

2016 Annual Pension Increase

Sunday, 24 April 2016 13:27

There will be no inflationary increase to be applied from 1 April 2016 for pensions in payment. This is based on instructions from the UK Treasury because, in the 12 months to September 2015, the Consumer Price Index (CPI) was negative (-0.1%). Any further annual increases will be dependent on future rates of CPI.

 

Contracted Out letters

Friday, 08 April 2016 15:01

We have recently issued letters notifying changes to state pension arrangements.

It has come to our attention that some members may have received more than one copy of the letter. If this affects you, please disregard any additional copies received.

 

Changes to Discount Rate

Thursday, 24 March 2016 12:24

In the budget on 16 March 2016, the UK Government announced changes to the Discount Rate which is used for financing purposes in public service pension schemes. The discount rate has been reduced from 3% above CPI per annum to 2.8% above CPI per annum, with a resulting impact on certain actuarial factors used in the schemes.. As the discount rate determines the way in which cash equivalent transfer values (CETV's) for public sector schemes are calculated, we have had to suspend some calculations with immediate effect for the NHS, Teachers', Police and Fire Schemes in Scotland. Transfers in and out of the Local Government Pension Schemes (LGPS) are also on hold. We expect to receive revised factors from the Governments Actuaries Department (GAD) within the next 2-4 weeks.

Read more: Changes to Discount Rate

 

Scottish Teachers' Pension Scheme - Current Contribution Rates

Tuesday, 22 March 2016 15:06

Current contribution rates for both employer and employee will apply to 31 March 2019.  The only changes that will be made are to the Paybands to reflect annual increases to the Consumer Price Index (CPI).  There has been no annual increase in CPI so the Paybands remain unchanged for 2016/2017.

 

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Link to Scottish Government Website