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STSS Updates
- Scheme Earnings Limit
- Benefit Statements 2006/2007
- Civil Partnerships (Reviewed 22/12/2005)
- Report on ill health retirement of Teachers & NHS Staff in Scotland
AVC with PRUDENTIAL
From 6 April 2006, the government changed the rules governing all retirement savings in the UK.
Some of the changes implemented on A-day affect our in-house AVC scheme with Prudential and members will now be allowed to take up to 25% of the value of their fund as a tax free lump sum.
For further detailed information on these changes go to:http://www.sppa.gov.uk/scot_teachers/documents/STSS Circular2006-5.pdf
Scheme Earning Limit (return to top)
With effect 6th April 2007 the scheme earning cap is now £112,800. This effects members who joined from 1st June 1989 onwards.
Benefit Statements 2006 / 2007 (return to top)
- SPPA have issued 159,000 benefit statements to members of both STSS & NHS Schemes in 2007. This is an increase of 5% from 2006.
- If you have not received a statement contact SPPA.
- Some employers were late with their returns and benefit statements cannot be issued in the 2006/2007 exercise.
Visit the Latest News page for updates on Pensions Reforms and for information on simplifying the taxation of Pensions visit our page on Taxation.
- A review of teachers’ pensions is currently taking place. For more information on this review visit the Pension Reform section of this site
- Work is now complete on the consolidation of the Teachers’ Superannuation (Scotland) Regulations 1992, which have been amended on numerous occasions. The new regulations are The Teachers’ Superannuation (Scotland) Regulations 2005 SSI2005/393 and came into force on 1st October 2005.
Civil Partnerships (Reviewed 22/12/2005) (return to top)
Changes to the main public service schemes in Scotland came into effect on 5th December 2005 to implement the survivor pension provision of the Civil Partnership Act 2004.
The overall effect will be that civil partners are treated for the purposes of survivor pensions in the same way as married spouses for service after 6th April 1988.
For information on any deadlines imposed in respect of buy-back arrangements for pre-1988 service, please follow the links below to access the relevant circulars relating to these changes.
Letter to Members – issued November 2005 and Circular 2005/6 – issued 6 December 2005
Report on Ill health retirement of Teachers and NHS staff in Scotland (Reviewed 28/11/2005) (return to top)