PCSPS pensioners - 1% ?

50Twuncle

Will my pension (pcsps) be limited to 1% pa - as civil servants are being limited to this figure ?

jamesd

Pension income for existing pensioners is not affected by limitations on pay increase for current employees. You should get your usual inflation-related increase.

xylophone

Pension income for existing pensioners is not affected by limitations on pay increase for current employees. You should get your usual inflation-related increase.

Indeed - I can remember a time when pensioners of a certain scheme well known to me were waxing lyrical about their RPI linked pensions while their former colleagues laboured gloomily on under pay restraints of one kind or another.....:)

bigfreddiel

50Twuncle wrote: »

Will my pension (pcsps) be limited to 1% pa - as civil servants are being limited to this figure ?

Does no one read the t&c's for really important things that you really should know about?

I can understand not reading an instruction manual for a TV or DVD player, but for the product that's going to be paying you an income for life, surely you would read the documents that relate to it?

Cheers fj

Transformers

bigfreddiel wrote: »

Does no one read the t&c's for really important things that you really should know about?

I can understand not reading an instruction manual for a TV or DVD player, but for the product that's going to be paying you an income for life, surely you would read the documents that relate to it?

Wrong side of the bed?

Lost a £1 and found a penny?

Mid life crisis?

Or just plain mean?

mgdavid

Transformers wrote: »

Wrong side of the bed?
Lost a £1 and found a penny?
Mid life crisis?
Or just plain mean?

<gobsmacked>
I agree with fj, I find it extremely hard to understand the level of naivety and ignorance shown by people in their own financial affairs.
When most of us have to work hard to find and keep a job, then to earn a decent wage or salary, let alone save and accumulate a pension, why wouldn't you make sure you understood all aspects of income and expenditure?

bigfreddiel

Transformers wrote: »

Wrong side of the bed?

Lost a £1 and found a penny?

Mid life crisis?

Or just plain mean?

Not at all, just sensible.

Cheers fj

50Twuncle

bigfreddiel wrote: »

Not at all, just sensible.

Cheers fj

OK the truth is that I am in a pretty rare position of having been retired (medically) at age 47 (with 25 years (preserved) public service behind me) - I was lucky to be on a Classic Pension and had another 5 years of TUPEd pension rights behind me from another employer !!
When I was first offered medical retirement - I was offered lesser terms than I ended up with - hence the question
I did read every last section of the docs or I wouldn't have been in this position now !!!

mgdavid

50Twuncle wrote: »

OK the truth is that I am in a pretty rare position of having been retired (medically) at age 47 (with 25 years (preserved) public service behind me) - I was lucky to be on a Classic Pension and had another 5 years of TUPEd pension rights behind me from another employer !!
When I was first offered medical retirement - I was offered lesser terms than I ended up with - hence the question
I did read every last section of the docs or I wouldn't have been in this position now !!!

You will either be subject to the Scheme Rules which you have access to and seem to know about, or you have some sort of special deal unique to you, that no-one on here will know the details of.

antonic

As an existing PCPS pensioner your annual raise will be determined by what Scheme Rules were in play when you retired.

bigfreddiel

50Twuncle wrote: »

OK the truth is that I am in a pretty rare position of having been retired (medically) at age 47 (with 25 years (preserved) public service behind me) - I was lucky to be on a Classic Pension and had another 5 years of TUPEd pension rights behind me from another employer !!
When I was first offered medical retirement - I was offered lesser terms than I ended up with - hence the question
I did read every last section of the docs or I wouldn't have been in this position now !!!

So why didn't you mention this in the original post? Presumably because it was not important and had no bearing on your pension.

I to was in the Classic scheme, and a workmates of mine retired early from the same scheme on medical grounds, so many classic scheme members must have retired on medical grounds. Now I would find it hard to believe that each and everyone of you have a different desk.

I would suggest you read the terms you were offered and let us all know how lesser they were and therein will lie your answer.


Alternatively contact the scheme administrators.

Cheers fj