how to calculate deferred pension

cmayflower

Hello I have a deferred gov pension, having paid into LGPS from Sept 2001 then bulk transferred to Gov pension 2017. My pensions are now split into diff gov schemes due to the protections that were in place. They are Nuvos pre 2008 contributions (age 60), Nuvos 2008 - 2014 (age 65) Alpha -CARE 2014 - March 2020

I'd like some idea on how to calculate the various pensions from these deferred pensions to their payout age seen in () above these are protected rights so no reduction, I cannot find anything about how to do this. Thank you for any help 

hugheskevi

cmayflower said:

Hello I have a deferred gov pension, having paid into LGPS from Sept 2001 then bulk transferred to Gov pension 2017. My pensions are now split into diff gov schemes due to the protections that were in place. They are Nuvos pre 2008 contributions (age 60), Nuvos 2008 - 2014 (age 65) Alpha -CARE 2014 - March 2020

I'd like some idea on how to calculate the various pensions from these deferred pensions to their payout age seen in () above these are protected rights so no reduction, I cannot find anything about how to do this. Thank you for any help 

If the pensions are all deferred, then they are just going up in line with CPI each year and so are maintaining their real value.

It looks like you are eligible for the 2015 Remedy from the dates above. Deferred members will be sent a Remedial Service Statement (RSS) by 31st March 2025. That will show pension benefits on both legacy and new scheme basis, as at the latest date. Probably best to wait for that, assuming you are not seeking to retire anytime soon.

cmayflower

hugheskevi said:

cmayflower said:

Hello I have a deferred gov pension, having paid into LGPS from Sept 2001 then bulk transferred to Gov pension 2017. My pensions are now split into diff gov schemes due to the protections that were in place. They are Nuvos pre 2008 contributions (age 60), Nuvos 2008 - 2014 (age 65) Alpha -CARE 2014 - March 2020

I'd like some idea on how to calculate the various pensions from these deferred pensions to their payout age seen in () above these are protected rights so no reduction, I cannot find anything about how to do this. Thank you for any help 

If the pensions are all deferred, then they are just going up in line with CPI each year and so are maintaining their real value.

It looks like you are eligible for the 2015 Remedy from the dates above. Deferred members will be sent a Remedial Service Statement (RSS) by 31st March 2025. That will show pension benefits on both legacy and new scheme basis, as at the latest date. Probably best to wait for that, assuming you are not seeking to retire anytime soon.

Brilliant, thank you that's easier than I thought. I'd be looking at taking the first Nuvos (pre 2008) at 60 so a couple of years, so I should have heard re the 2015 remedy by then, thank you for your reply