Civil Service Classic Pension queries

kjs31

Looking for some advice please. I was in the Civil Service Classic pension scheme from 1984 until 1994 when I left and became a deferred member. As my pension is due to start paying at age 60 at the end of this year I thought I would request a statement / current valuation last September as I had not received one for several years. 

I registered for the app but found that as I was a deferred member I couldn’t request an annual benefit statement via the app so I followed the enquiry process to do this as per the site advice. I still don’t have an ABS 5 months later. Is this usual? I can actually view my ‘revalued’ pension on the website now though. Is this all I will receive? It doesn’t look as if my pension has increased much in nearly 30 years 😭. I was expecting it to be over 7k TBH. 

Also, in the screenshot above it says I joined in April 1984 (which is when I started work). In the app it says August 🤔. 

Will they send me an ABS soon anyway given that I will be drawing my pension at the end of the year? 

Thanks in advance. 

Silvertabby

kjs31 said:

Looking for some advice please. I was in the Civil Service Classic pension scheme from 1984 until 1994 when I left and became a deferred member. As my pension is due to start paying at age 60 at the end of this year I thought I would request a statement / current valuation last September as I had not received one for several years. 

I registered for the app but found that as I was a deferred member I couldn’t request an annual benefit statement via the app so I followed the enquiry process to do this as per the site advice. I still don’t have an ABS 5 months later. Is this usual? I can actually view my ‘revalued’ pension on the website now though. Is this all I will receive? It doesn’t look as if my pension has increased much in nearly 30 years 😭. I was expecting it to be over 7k TBH. 

Also, in the screenshot above it says I joined in April 1984 (which is when I started work). In the app it says August 🤔. 

Will they send me an ABS soon anyway given that I will be drawing my pension at the end of the year? 

Thanks in advance. 

Your Pensions Increase factor from 14 October 1994 to post 8 April 2024 is 2.3150

I make that:

3046.62 X 2.3150 = 7052.93
5978.32 X 2.3150 = 13839.81

Strange ..... even your start date anomaly won't explain why your lump sum appears to have been uprated correctly, but not your pension.

Unless a CS expert can throw any light on this, it's something that you will need to raise with CSPs.

ADD

How very odd.  The 6609.95 you have been quoted for your uprated pension, plus 6.7% from 8 April, = 7052.82.  Looks like your lump sum has been uprated to include the April 2024 increase, but not your pension. 

Is there some weird thing with CSPS in which the pension isn't uprated in the final year before NRA?  Hopefully, one of our CSPS experts may be able to throw some light on this for you.  But your dates query isn't something that anyone on here will be able to help you with.

Kynthia

Did you ever work part time or have any breaks in your service, eg maternity leave or long term sick leave?

These could reduce your reckonable service and possibly explain the 4 months difference in dates.

kjs31

Kynthia said:

Did you ever work part time or have any breaks in your service, eg maternity leave or long term sick leave?

These could reduce your reckonable service and possibly explain the 4 months difference in dates.

No I was full time for my whole service with no breaks. No long term sickness at all. 

BoGoF

The whole thing looks wrong - standard lump sum with classic is 3 x annual pension. MyCSP are a bit of a shambles just now and think you need to pester them again for your 2023 ABS. 

kjs31

BoGoF said:

The whole thing looks wrong - standard lump sum with classic is 3 x annual pension. MyCSP are a bit of a shambles just now and think you need to pester them again for your 2023 ABS. 

I think it’s something to do with widows’ pension years ago but can’t remember the details. I wasn’t married at all during my period of service. 

I will definitely pester them though. 

kjs31

I noticed this advertised in the app. Is this worth signing up for or is it for active members only? 

kjs31

Another thing I noticed when I read the T&Cs is that there is an annual increase to the deferred pension in April each year, so I will get an annual increase to my deferred pension in April this year and then my pension starts to pay in December 2024. When it comes to the increase in April 2025 I only get a percentage of the increase as the pension has only been physically paying for 3 months. So I won’t get any increase for the period between April and December when it was still deferred? Surely I can’t be disadvantaged by being born later in the tax year? 🤷🏻‍♀️

hyubh

kjs31 said:

Another thing I noticed when I read the T&Cs is that there is an annual increase to the deferred pension in April each year, so I will get an annual increase to my deferred pension in April this year and then my pension starts to pay in December 2024. When it comes to the increase in April 2025 I only get a percentage of the increase as the pension has only been physically paying for 3 months. So I won’t get any increase for the period between April and December when it was still deferred? Surely I can’t be disadvantaged by being born later in the tax year? 🤷🏻‍♀️

No, this is not correct. Public sector pensions 'revalue' in deferment by applying pension increases (most private sector DB pensions, in contrast, have a distinct revaluation calculation). So the first, pro-rated increase is for the first part year after leaving, not the first part year after retiring.

Dazed_and_C0nfused

hyubh said:

kjs31 said:

Another thing I noticed when I read the T&Cs is that there is an annual increase to the deferred pension in April each year, so I will get an annual increase to my deferred pension in April this year and then my pension starts to pay in December 2024. When it comes to the increase in April 2025 I only get a percentage of the increase as the pension has only been physically paying for 3 months. So I won’t get any increase for the period between April and December when it was still deferred? Surely I can’t be disadvantaged by being born later in the tax year? 🤷🏻‍♀️

No, this is not correct. Public sector pensions 'revalue' in deferment by applying pension increases (most private sector DB pensions, in contrast, have a distinct revaluation calculation). So the first, pro-rated increase is for the first part year after leaving, not the first part year after retiring.

I get what the op is saying though, they have been a deferred member for many years so have been receiving the full annual revaluation for a long time.  This would have added 10.1% in April 2023 and a further 6.7% in April 2024.

For simplicity say September 2024's CPI figure is 6.0% and the pension is put into payment at NPA in December 2024.

They will get 1.5% increase in April 2025 but appear to be missing out on the remaining 4.5%.

If the revalued pension at April 2024 was exactly £10,000 then from April 2025 won't the pension be just £10,150?

hyubh

Dazed_and_C0nfused said:

hyubh said:

kjs31 said:

Another thing I noticed when I read the T&Cs is that there is an annual increase to the deferred pension in April each year, so I will get an annual increase to my deferred pension in April this year and then my pension starts to pay in December 2024. When it comes to the increase in April 2025 I only get a percentage of the increase as the pension has only been physically paying for 3 months. So I won’t get any increase for the period between April and December when it was still deferred? Surely I can’t be disadvantaged by being born later in the tax year? 🤷🏻‍♀️

No, this is not correct. Public sector pensions 'revalue' in deferment by applying pension increases (most private sector DB pensions, in contrast, have a distinct revaluation calculation). So the first, pro-rated increase is for the first part year after leaving, not the first part year after retiring.

I get what the op is saying though, they have been a deferred member for many years so have been receiving the full annual revaluation for a long time.  This would have added 10.1% in April 2023 and a further 6.7% in April 2024.

For simplicity say September 2024's CPI figure is 6.0% and the pension is put into payment at NPA in December 2024.

They will get 1.5% increase in April 2025 but appear to be missing out on the remaining 4.5%.

If the revalued pension at April 2024 was exactly £10,000 then from April 2025 won't the pension be just £10,150?

You've lost me I'm afraid. Why would the OP only get a 1.5% increase in April 2025 if the September 2024 CPI figure were 6%...?