Latest News

Cypriot Banking Crisis – resumption of payments to the majority of affected bank accounts

Tuesday, 02 April 2013 13:38


Following dialogue with the UK Government, the Scottish Government has requested that scheme administrators resume payments to Cypriot bank accounts with immediate effect. For the avoidance of doubt this includes Bank of Cyprus and Laiki / Cyprus Popular accounts in Cyprus.

The only exception is the Romanian branch of Bank of Cyprus which the Scottish Government understands will be closed until at least 8th April. Advice is that payments to this bank should remain on hold until further notice.

The Scottish and UK Governments are continuing to monitor this situation and we will keep you informed of any further changes.

Previous Update


Pension Increase 2013

Thursday, 14 March 2013 13:07

pound coinThe Chief Secretary to the Treasury has confirmed that public service pensions will be increased by 2.2 per cent from 8th April 2013 in line with the September-to-September increase in CPI (Consumer Price Index).

Any pension which has been in payment for less than a year will be increased by a proportionate amount depending upon the number of months it has been in payment.


Pension Liberation Fraud

Thursday, 14 February 2013 10:26

pension_liberationThe Pensions Regulator is working with pension administrators, employers and independent financial advisers to raise awareness of pension liberation fraud.

A number of SPPA customers have been contacted by companies who have been targeting savers with claims that they can help them take their pension cash early. In November 2012 the SPPA alerted customers of a pensions scam and have passed the details we have received on to the Pensions Regulator.

Read more: Pension Liberation Fraud


Consultation on Draft Regulations for Employee Contribution Increases from April 2013

Last Updated on Thursday, 21 February 2013 08:12 Thursday, 20 December 2012 13:00

consultationsA consultation on draft regulations to introduce proposed increases in employee contributions to public sector pension schemes in Scotland from April 2013 has now concluded.

In a statement to Parliament on 28th November 2012, the Cabinet Secretary for Finance, Employment and Sustainable Growth, John Swinney, announced the Scottish Government’s decision to implement the second annual increment of UK Government proposed employee contribution increases for the Teachers’, NHS, Police and Firefighters’ schemes in Scotland. The full text of that statement can be viewed in the Official Report for that day and via the Scottish Parliament website.

Read more: Consultation on Draft Regulations for Employee Contribution Increases from April 2013


UK Chancellor's Autumn Statement

Thursday, 13 December 2012 13:33

hm_treasuryThis year's Autumn statement by the Chancellor of the Exchequer raised two key issues for pension schemes. These concern reductions to both Annual Allowance and Lifetime Allowance.

Read more: UK Chancellor's Autumn Statement


Finance Secretary Statement on Public Sector Pensions (Summary)

Monday, 10 December 2012 15:34

scotland_iconFinance Secretary John Swinney delivered a statement on public sector pensions in the Scottish Parliament on 28th November 2012. Whilst re-emphasising that UK Government sets the basic terms for public service pensions in Scotland he outlined the clarifications he has received from UK Ministers on the extent to which the Scottish Government has the flexibility to negotiate the detail of Scottish schemes.

Read more: Finance Secretary Statement on Public Sector Pensions (Summary)


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Link to Scottish Government Website