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Pension Overview

Tax and Legislation

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Higher inflation and what this means for your pension

Inflation is now at its highest rate for three decades, and the Consumer Prices Index (CPI) and the Retail Price Index (RPI) both reflect this....

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New transfer regulations

At the end of last year, The Pensions Regulator (TPR) published new regulations, that will require the Trustee and administrators...

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Reporting the death of a member

Sadly, each year a number of our members pass away. We know this is a difficult time for those they leave behind....

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Guaranteed Minimum Pension (GMP) explained

GMP is a minimum level of pension built up from 6 April 1978 until 5 April 1997 (inclusive) in a pension scheme (like our Scheme) that was contracted out of the additional State Pension....

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State Pensions increase by 3.9%

From 6 April 2020, the State Pension, for those who reached their State Pension Age on or after 6 April 2016 will rise by 3.9% to £175.20 a week (£9,110.40 a year)....

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PSAL merge with Xafinity

In last year’s edition of Overview we reported that the administration of the DB Section moved to PS Administration Limited (PSAL) with effect from 1 July 2017...

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GMP equalisation

You may have seen reports in the news about the recent High Court ruling regarding the Lloyds Bank pension schemes....