Business Services Organisation
Introduction
This schedule discloses the rate of charges for HSC Pension Service to provide information in relation to pension benefit estimates, transfer values and data requests.
All charges include VAT at the standard rate of 20%.
Background
HSC Pension Service has always provided a wide range of information about members’ pension benefits to meet a variety of different circumstances even when we were not obliged to do so, under the existing Legislation .Whilst we will continue to provide legislative and other non-legislative information free of charge we are reviewing and amending administrative charges from 1st April 2019 to cover the operational costs of providing these additional services.
Payment method
All charges disclosed on this schedule must be paid up front. This means that HSC Pension Service must receive full payment by BACS or Cheque before providing any information.
Bacs payment details:
Sort Code – 90-21-27
Account no: – 19962840 – (Members should quote HOT620 and the first 4 digits of their National Insurance number in their payment reference.
All cheques should be made payable to “Business Services Organisation”.
Estimate and transfer value information
The table below sets out the different types of legislative and non-legislative information that HSC Pension Service provides. The fourth column shows the charges to cover the operational costs of providing them.
| Estimate Type | What is Provided to Members? | Does HSC Pension Service have to Provide this Information? | Charges to Members Applicable from 1st April 2019 |
| Age Estimate within 12 months of NPA (first request i.e. no request within previous 12 months) | Age – An Estimate of Pension Benefits at Normal Pension Age | Yes | Free |
| Age Estimate (second or more within 12 months of HSC Pension Service receiving your first request) | Age – An Estimate of Pension Benefits at Normal Pension Age | No | £45 |
| Estimate – Any hypothetical calculation, which is in addition to a member’s entitlement | Information Based on Hypothetical Circumstances | No | £45 |
| IFA Requests (including requests from other authorised third parties) | All Information Requested from IFA is Chargeable | No | £45 |
| Individual Protection 2016 (IP2016) Valuation | No | £120 |
| Transfer Value Type | What is Provided to Members? | Does HSC Pension Service have to Provide this Information? | Charges to Members Applicable from 1st April 2019 |
| The First Request for a CETV or Statement of Entitlement | The value of Pension Benefits if you Decide to Transfer to Another Registered Pension Scheme and the Request is Within Age and Time Limits.
|
Yes | Free |
| A Second or More Request for a CETV or Statement of Entitlement made within 12 months of HSC Pension Service Receiving your First | The value of Pension Benefits if you Decide to Transfer to Another Registered Pension Scheme and the Request is Within Age and Time Limits.
|
No | £408 |
| A Replacement Statement of Entitlement required where the Scheme Option Forms are not Returned Within 3 Months of the Guarantee Date | The Value of Your Pension Benefits if you Decide to Transfer to Another Registered Pension Scheme and the Request is within Age and Time Limits.
(The Value is Guaranteed for Three Months from the Guarantee Date) |
No | £408 |
| CETV – Any Hypothetical Calculation, Which is in Addition to a Member’s Entitlement | Information Based on Hypothetical Circumstances | No | £408 |
| IFA Requests | A Request for a CETV or Statement of Entitlement from an Independent Financial Advisor on Behalf of a Member | No | £408 |
| P60 | What is Provided to Members? | Does HSC Pension Service have to Provide this Information? | Charges to Members Applicable from 1st April 2019 |
| Original P60 | A Summary of Your Pension and the Tax that has Been Deducted in the Financial Year | Yes | Free |
| Duplicate P60 (Requested within 12 Months of Being Issued) | A Summary of Your Pension and the Tax that has Been Deducted in the Financial Year | No | Free |
| Second Duplicate P60 (Requested within 12 Months of Original and Copy Being Issued) | A Summary of Your Pension and the Tax that has Been Deducted in the Financial Year | No | £15 |
Important Information – requesting an estimate of benefits to a future date.
Should you request an estimate to a future date or to your normal pension age then this projection may not be possible. This is due to the HSC Pension Scheme changes that took effect from 1st April 2015.
The Occupational Pension Schemes (Disclosure of Information)Regulations 1996 requires schemes to provide this information at no charge to Scheme Members.
The Occupational Pension Schemes (Transfer Values) Regulations 1996
Notes:
1. These charges are proportionate and accurately reflect the costs of administration involved in providing the information.
2. We require full upfront payment by cheque before we start processing chargeable requests.
3. Please allow up to 10 working days for the payment to process.
4.CETVs for divorce purposes are subject to separate legislation and charges. Pensions on Divorce information is available on our website at: Pension on Divorce (HSC)