The State Pension is changing to a single tier system from 6 April 2016. The introduction of a single tiered State Pension means that ‘contracting out’ will end and HSC Pension Scheme members will no longer pay a lower rate
LTA Changes
The Standard Lifetime Allowance is reducing to £1 Million from 6 April 2016 In the Summer Budget 2015 the Chancellor announced a reduction in the standard lifetime allowance from £1.25 million to £1 million from 6 April 2016, remaining at
ERRBO Update
An application for an ERRBO agreement should normally be made within three months of joining the 2015 Scheme for it to be effective from your first Scheme year. However the Department has agreed to permit any application for an ERRBO
Bogus Calls
There have been a number of incidents where HSC staff have received calls from someone purporting to be from HSC Pensions wishing to discuss changes to their pension and attempting to obtain personal financial details. You should note that HSC
HSC Pension Scheme: Important changes to the Scheme from April 2015
Important information on changes to the HSC Pension Scheme in 2015 can be viewed here. You should read this leaflet even if you are not a scheme member of the HSC Pension Scheme as it contains important information about a
Consultation on new HSC Pension Scheme from 1 April 2015
The Department of Health, Social Services and Public Safety is undertaking a consultation on three sets of draft regulations which will give effect to and underpin a new HSC Pension Scheme from 1 April 2015. This follows on from the
The Pensions Regulator- Pension Liberation Fund (Reminder)
Companies are singling out pension savers and claiming that they can help them access their pension fund before the minimum pension age of 55 and without tax consequences. In rare cases, such as terminal illness, some members may be able
The Individual Lifetime Allowance 2014 (Update)
The Lifetime Allowance (LTA) is the maximum amount of pension savings that you can build up over your lifetime that benefit from UK tax relief. The level of the standard LTA will reduce from £1.5million to £1.25million with effect from
Payslip & Contribution Deduction Queries
If you have a query regarding pension contributions deducted from your latest pay or any issues with your payslip, please contact the Payroll Shared Services Centre on 02895 362190.
The standard Lifetime Allowance (LTA) is reducing to £1.25m from 6 April 2014
This is a reminder that the standard LTA is to reduce from £1.5m to £1.25m from 6 April 2014. This means a standard LTA of £1.25m will apply to members who become entitled to receive (crystallise) their HSC benefits when