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Your Pension – Your Future Your Responsibility

Your Pension – Your Future Your Responsibility. S tarter Pack E ntry to the schemes C overage U seful information R eward E xtra resources. Starter Pack. Have you received your pack? Who can join the pension arrangements? Automatic enrolment Choice of schemes

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Your Pension – Your Future Your Responsibility

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  1. Your Pension – Your Future Your Responsibility Starter Pack Entry to the schemes Coverage Useful information Reward Extra resources

  2. Starter Pack • Have you received your pack? • Who can join the pension arrangements? • Automatic enrolment • Choice of schemes • PensionChoices form - Death Benefit Nomination • Partner Declaration form • Timing

  3. Entry into the Scheme (time to make your choice) nuvos • Employer/employee contributions State pension • basic pension • possible top-up payments

  4. Entry into the Scheme (time to make your choice) partnership pension account • Free pension! • Employer contributions State pension • basic pension, plus • State Second Pension (S2P)

  5. Coverage – more than just a pension Both nuvos and partnership provide: • Cash lump sum possible when you take your pension • Death in service lump sum • Ill health benefits • Dependants’ benefits provided with nuvos, optional in partnership • Opting out – you give up all of this including the employer’s contribution – part of your pay package!

  6. Useful Information • Qualifying service • Transfers in – time limits • Linking • Part time service • Annual benefit statements • Pension boosting

  7. Year 1 Year 2 Year 3 Reward – How your nuvos pension builds up CPI increase on balance at 31 March pension based on this year’s earnings Balance at 31 March each year

  8. Extra resources(for more information) • CSP Website www.civilservice.gov.uk/pensions • Pensions Administrator (MyCSP Pension Service Centre) • HR • Intranet • DWP Website - via www.direct.gov.uk • The Pensions Service website – www.thepensionservice.gov.uk • Still unsure – contact an Independent Financial Adviser (IFA) – see FSA website www.fsa.gov.uk

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