 |
For scheme specific news please visit the Latest Scheme News page on the relevant scheme area of the website
HM Treasury Guidance on CETV and CPI changes |
8 August 2010 |
The Treasury has released Updated guidance on the discount rate for use in calculating CETV's. Guidance document There are also Questions and Answers about the change from RPI to CPI as announced in the June Budget. Questions and Answers |
|
Independent Public Service Pensions Commission (IPSPC) |
16 July 2010 |
Public service pensions are the subject of a UK Government review, taken forward by the Independent Public Service Pensions Commission (IPSPC), chaired by John Hutton. Pensions policy is a reserved issue. Scottish Ministers have limited devolved responsibilities for some public service pension schemes and have already moved to ensure those schemes are affordable, sustainable and fairer. The Cabinet Secretary for Finance and Sustainable Growth has written to the Chief Secretary to the Treasury; recognising the need for further consideration of public service costs; asking for a thorough process of engagement with Scottish stakeholders in the pensions review; and offering to meet the Commission's chairman, John Hutton. |
|
UK Budget |
22nd June 2010 |
As part of the emergency budget announcement the Chancellor announced that the up rating of public service pensions will, in future, be based on the Consumer Price Index (CPI) measure of price movements rather than the Retail price Index (RPI). The CPI is already used by the Bank of England, and is considered to be a better measure of the general level of prices for indexing pensions and benefits. The change will take effect from the next up rating in April 2011. Further details on this change will be available as soon as possible. In addition the Chancellor also announced that an independent commission chaired by John Hutton, formerly Secretary of State for Work and Pensions, will undertake a fundamental structural review of public service pension provision by Budget 2011 and consider the case for short-term savings in the Spending Review period by September 2010. The Commission will include the five main public sector schemes in Scotland namely the NHS, Teachers, Local Government, Police and Firefighters. [Further Details] The Government will be talking to interested parties to help determine the best design of a regime to restrict pensions tax relief that raises no less revenue than existing plans (legislated at Finance Act 2010), and involves reform of existing allowances, principally of a significantly reduced Annual Allowance. Further discussions are due to take place with HM Treasury as it finalises details of this policy. Further information on this change will be provided as soon as the final details have been agreed. |
|
Website Improvements |
April 2010 |
In the coming months the SPPA will be looking to refresh the layout and appearance of this website. Before we make any changes we would like to hear your comments and suggestions as to how we can best improve this website. Please use the link below to contact us. |
|
Pension Increase |
April 2010 |
Pensions are index-linked in line with annual changes in the Retail Price Index (RPI) each September. This determines if a pension is to be increased from the following April and if so by how much. In September 2009 the RPI was recorded at -1.4%. HM Treasury have confirmed that there will be no increase or reduction applied to Public Service Pensions from 6th April 2010 as a consequence. This means that your SPPA pension will remain at its current rate and any pensions increase for 2011 will be dependant on the RPI in September 2010. We have prepared a short Question and Answer document to help with any queries you may have. |
|
Stakeholder Survey |
March 2010 |
Towards the end of last year we conducted our annual customer satisfaction survey. Your responses are vital to us as they help identify ways of improving our service. Consequently, over the coming year we will be investigating the effectiveness of our Voice Activated Telephone System as well as refreshing the appearance of our website. We will also be looking at how we can reduce the time taken to respond to the letters we receive. Thank you to everyone who took the time to respond. |
|
Employer Newsletter |
February 2010 |
The Stakeholder Liaison Team of the SPPA has produced Employer specific Newsletters. The first editions are available below. |
|
Withdrawal of TAPS Service |
December 2009 |
Halifax Bank of Scotland have announced that they are withdrawing their Transcontinental Automated Payment Service (TAPS), which allows pension payments to be made directly to overseas bank accounts. This change will take effect from 31 December 2009. Our new TAPS provider will be Citibank. Arrangements have already been made to automatically transfer over the responsibility for the payment of pensions to overseas bank accounts, using Citibank’s Worldlink Payment Services from mid December 2009. You therefore do not need to contact us or take any further action regarding this matter. |
|
NHS Axise GO Live |
September 2009 |
During 2006 the Agency undertook a rigorous procurement and evaluation process to ensure they selected the correct supplier to provide their new PAS. Heywood Ltd was the successful company and in March 2007 it was agreed that they would supply SPPA with their PAS, which is known as Axise, for a period of 8 years. Following Project Board meetings held on 3 and 10 September 2009, administration of the NHS Scheme was migrated onto Heywood’s Axise system from 24 September 2009. |
|
Budget Announcement |
May 2009 |
The UK Budget 2009 introduced changes to the tax relief available to high earners, including a special annual allowance of £20,000. This is an important change which may impact on decisions you take about your pension saving in tax years 2009-10 and 2010-11. Full details of the change can be found on the HMRC website: www.hmrc.gov.uk Further information is also available in the attached document. Budget 2009 Tax Changes |
|
Stakeholder Survey (return to top)
Stakeholder Survey |
||
2009 |
File: pdf 497kb | |
2008 |
File: pdf 183kb | |
2007 |
File: Word 40.0kb | |
2006 |
File: pdf 62.5kb | |
Misc (return to top)
Miscellaneous Links |
|
Independent Pensions Commission: First Report (01/09/2005) |
|
Preston Cases (Reviewed 1/9/2005) |
|
Dr Judith Brown Report - Review of Ill Health Retirement |
|
Ageism - Discrimination of the grounds of age |
|
Gender Recognition Act 2004 |
|
Report by Policy Pensions Institute [PPI] (01/09/08) |
|
The Pensions Commission (02/12/05) |
|