Accessing small value DWP frozen pension

hyubh

wildz wrote: »

Yes I have 2 pensions, one that was frozen in April 1992, and began a classic in 2000, I transferred under TUPE with various companies, last year MyCSP began administering my pension. I don't know what fair deal employer is.

'Fair Deal' is the name of the legislation that protects the pension membership of civil servants TUPE'd to a private company. In a nutshell, the company becomes a Civil Service scheme employer, paying the standard employer rate, to enable the transferred employees to remain active members of the pension scheme.

So, in the context of the civil service scheme, a 'Fair Deal employer' is an employer in the scheme due to Fair Deal legislation.

xylophone

Is unaggregated periods of Classic membership (except for flexible retirement situations) even a thing..

The first link above refers to those with deferred pensions in the scheme who took up a new employment in the scheme being offered aggregation in 2006.

Fuzzy16

I have looked at my state pension forecast recently, that seems ok. Don't know what aggregate means. My DWP pension transferred over into the new company's pension scheme in 2007, then last year after being taken over again the pension was taken on by MyCSP. I now have to contribute 4% of my salary. Maybe it's something for HR to look into for me.

hyubh

wildz wrote: »

My DWP pension transferred over into the new company's pension scheme in 2007, then last year after being taken over again the pension was taken on by MyCSP.

This still sounds a bit confused, sorry. If your civil service pension transferred over into the new company's pension scheme, then you transferred out of the civil service scheme. You cannot 'transfer into' MyCSP in this sense, because MyCSP are just an administrator. However, if MyCSP is the administrator, then you never transferred out of the civil service scheme. Or where you bulk transferred back into the civil service scheme...? (https://www.civilservicepensionscheme.org.uk/employers/applying-to-join-civil-service-pensions/new-fair-deal/new-fair-deal-faq-for-members/)

hyubh

xylophone wrote: »

The first link above refers to those with deferred pensions in the scheme who took up a new employment in the scheme being offered aggregation in 2006.

Doh, yes. More here:

https://www.civilservicepensionscheme.org.uk/employers/employer-pension-notices/epn132/

xylophone

You worked for the DWP until 2007 and were a member of the Classic CSPS.

Are you saying that you transferred out of CSPS into an unrelated scheme and then transferred in again to CSPS?

I now have to contribute 4% of my salary.

Do you mean 4.6%?

xylophone

Don't know what aggregate means.

Were you offered the chance to bring together the deferred CS pension with the CS pension to which you were then contributing (join one with the other)?

Fuzzy16

I believe we were all transferred back in,hence our contributions more than trebled.

Fuzzy16

When I asked for a statement regarding the small pension a covering letter said I could accumulate it. Yes, 4.6%

xylophone

accumulate

Aggregate? Was this in 2006 or have you just been offered the chance to do this?

Would it benefit you to do this and then work on to get as many years as possible in the scheme?

I am still at a loss to understand the transfer out/ transfer in business.

Can you explain more fully?