Key changes

The key changes to the Scheme are in two parts.

For part one, the government delivered the necessary legislation. This meant:

• the final salary scheme closed on 31 March 2022
• since 1 April 2022 all active members now build up their pension benefits in the career average scheme.

For part two, the government legislation looked at how to implement the changes. There are various changes depending on your circumstances during the remedy period and we recommend you look at the information appropriate to you.

What choices do I have to make?

• If you’re eligible, you’ll choose between your final salary and career average pension scheme benefits for service between 1 April 2015 and 31 March 2022 (the remedy period). You’ll make your choice at the time you take your pension benefits - this is referred to as the Deferred Choice Underpin (DCU).
• Initially, those of you who were moved to the career average scheme in 2015 (or later if you had tapered protection), will be moved back into the final salary scheme for the remedy period. However, when you then take your pension benefits, you’ll get to make the choice which is best for you. 
• If you’re affected and have already taken benefits from the final salary scheme you’ll be given the choice for service between 1 April 2015 and the date you take your pension benefits. Any change will be backdated.

• What choices do I have to make?
   
• What if I took out flexibilities?
   
• What if I had overtime?
   
• What if I have excess service?
   
• Annual Allowance
   
• Retrospective Additional Pension
   
• Transfers
   
• Bereavement and child pensions in payment
   
• Divorce (Pension Credit Member)
   
• Divorce (PDM)

For more information on the changes why not watch our scheme changes video.

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