Final pension payment

[lewy]

I have recently turned sixty and would like to say how easy and uncomplicated getting my pension was despite horror stories posted on these pages over the last few years, both capita and royal mail were extremely helpful and both paid lump sum on my birthday date so a well done to the pension guys

[heapsy]

That's good to hear. Hopefully when my time comes it will be just as easy.

[baldrick]

It's 12 years since i took my pension and it was straightforward then. Possibly a problem for a minority, but I suppose it's those who have had problems that we hear about on this forum.

[RobertT]

Most of the problems have arisen since Capita took over the admin for the RMSPS in 2017. Before then, the PSC in Sheffield(formerly Chesterfield) was solely responsible for all benefits.

I read recently, the Cabinet Office have awarded Capita a 10 year contract to deal with the Civil Service pensions, to the value of £239 Million: https://www.capita.com/news/capita-sele ... ion-scheme

The RMSPS contract is also up for renewal fairly soon. Hopefully they'll see sense and put all the admin back under one roof - in Sheffield.

https://www.gov.uk/government/publicati ... assessment

[Hyrrokkin]

Most of the problems have arisen since Capita took over the admin for the RMSPS in 2017. Before then, the PSC in Sheffield(formerly Chesterfield) was solely responsible for all benefits.

I read recently, the Cabinet Office have awarded Capita a 10 year contract to deal with the Civil Service pensions, to the value of £239 Million: https://www.capita.com/news/capita-sele ... ion-scheme

The RMSPS contract is also up for renewal fairly soon. Hopefully they'll see sense and put all the admin back under one roof - in Sheffield.

https://www.gov.uk/government/publicati ... assessment

100% - Many would agree and hope that is the case
However i think they will redo the Capita contract and ignore the complaints - pound signs winning out v competency and common sense
I hope i am wrong

[RobertT]

In practice, we don't know if the PSC have actually bid for this contract, let alone whether they're in with a chance of getting it.

The last few years have shown having two administrators for our pensions doesn't work particularly well, and the cheapest option definitely isn't the best choice.

The second link I provided above, does give a little bit of hope they might be looking at changing from Capita for the RMSPS, where it says:

The renewal of the contracts for both the CSPS and the RMSPS will act as a catalyst for the change in the status quo of the current administration contract.........

[mrcurve]

well, this is good news, it will be interesting to see if this new standard continues, I am at least glad that the efforts being made to help people avoid the pitfalls are paying off.

maybe a sticky check list would be helpful.

[Ady128]

Slightly off topic but does anyone know how much the pension supplement is that gets stopped when you reach state pension retirement age? Is it £3328 which equals £277 a month?

[RobertT]

Slightly off topic but does anyone know how much the pension supplement is that gets stopped when you reach state pension retirement age? Is it £3328 which equals £277 a month?

The supplement is only paid out to section C members and was accrued alongside the final salary and CARE pensions.

It was based on length of service and the Lower Earning Deduction, so the amount you get will depend how long you were in the scheme.

Your annual statements should show a figure which is specific to you.

This is what the RMSPS guide to benefits says on how it's worked out:

The supplement is based on service and the Lower Earnings Deduction and is calculated as follows:

For service before 1 April 2008: 1/60th of the average Lower Earnings Deduction over the period during which final pensionable pay is calculated, with an additional pro-rata amount for part years.

For service on or after 1 April 2008: For each Plan Year you would get 1/60th of the Lower Earnings Deduction for that year (reduced appropriately if you worked part-time and for part years of service).

[heapsy]

It's 12 years since i took my pension and it was straightforward then. Possibly a problem for a minority, but I suppose it's those who have had problems that we hear about on this forum.

It could also be that Capita weren't the administers for the pension back then, that's why you didn't have a problem.