If you chose to retire at age 67, the portions of your pension would be treated like this: Yes. Yes. If over the course of your career you built up your main alpha pension, an EPA portion of your pension (NPA minus one), and a second EPA portion (NPA minus three), you would have three separate pension portions. You can find copies of the PCSPS scheme rules on the Civil Service Pensions website. Your pension will be lower if you choose this option. Annual Allowance is the maximum value of the growth in your pension savings each year that can benefit from tax relief. The name field is required. The alpha pension scheme is part of the Civil Service pension arrangements. Your contributions are taken direct from your pay, in the same way as your normal alpha contributions. Although your transfer will be in nuvos, not alpha, it will still be included in any estimates or statements you get. You must have enough qualifying service to be eligible for a pension. You will be enrolled back into alpha. In alpha this is currently age 55. The Lifetime Allowance (LTA) is the limit on the amount of pension benefit(s) that you can take from all of your registered pension arrangements before you incur a tax charge. When you start taking your benefits you will get an option to exchange some of your annual pension for a one-off, tax-free, lump sum. This means that changes can only take effect from the start of the next scheme year (01 April). If you choose to opt out again, you will not be able to opt back into the scheme until 12 months after your last opt in date. Ill-health retirement when you have banked service from one of the final salary schemes (classic, classic plus, or premium) or banked pension benefits from nuvos follows the same process. If your pension was classic plus, the automatic lump sum will only be based on the service you built up while you were in classic (up to 30 September 2002). You will need to complete an opt out request form and send it to your employer. Anna moves into alpha on 01 April 2015 after building up 20 years service in classic. Payments will be paid to your ex-spouse or civil partner when you claim your pension (retire). HM Revenue & Customs can ask you to pay back any tax relief you get above the relevant limits. Your actual pensionable earnings are used to work out your benefits, so this takes into account the reduced amount you earn. Shortly after you leave you will get an estimate of your refund and cash transfer sum, and a form to return telling the Scheme Administrator (MyCSP) your preferred option. There is more information on the Annual Allowance in Section 07A - Your pension and tax. You can claim your pension from your minimum pension age. If you were a classic or classic plus member you will still get the automatic lump sum and you may have an option to exchange some of your pension for an additional lump sum. The courts can decide that the costs are to be paid by you or your former spouse / civil partner, or that the costs are split between you. As each part of your pension might have a different NPA, the amount each part is reduced could be different. alpha also provides some benefits that can be made to your family if you die. From this point each year your preserved alpha pension is adjusted in line with prices. Your option to exchange is based on your pension after the late payment adjustment has been applied. A guide to transferring your alpha pension to another pension scheme. 02A. Every effort has been made to make this guide as accurate as possible, but in the event of any difference, the regulations will apply. Civil Service Pensions charge for some of the services and information it provides. This is the value of the notional pension benefits you have built up. If the problem is not sorted out to your satisfaction, you can raise your concerns under the Internal Dispute Resolution (IDR) procedure. Most new entrants who join after 01 April 2015 will be eligible for membership of alpha. You do not have to take these benefits at the same time as your Civil Service pension. If you commuted “gave up” some of your pension for Lump Sum at retirement, your dependants’ pension will be based on the pension before commutation. But if you do, the payment you are receiving in respect of those benefits will stop, meaning the overall amount of pension that you get will reduce to just the alpha part of your benefits. Principal Civil Service Pension Scheme (PCSPS) 窶� Key features 窶� March 08. When there are one or two children, each child will get a pension equal to 30% of your pension. You can find out further information on the Pension Advisory Service website: www.pensionsadvisoryservice.org.uk. Your eligible dependants will get the pensions from the PCSPS part of your pension, worked out using the rules for that scheme. If your spouse, civil partner, or partner is more than 12 years younger than you, the pension they receive will be reduced. Your pension can be reduced if you claim it before your NPA, or it can be increased if you claim it later than your NPA. If the SMA recommends that your pension is reduced (dropping from a higher to lower tier) or removed, you will get three months’ notice before your payments change. If you want to proceed with the transfer, you and your new pension scheme will need to sign the appropriate discharge papers. This is the pension you have built up to the date you leave alpha. However, if you have bought: your pension may not be paid out immediately but will be preserved instead. You can choose to opt out and leave alpha while remaining in employment. 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