Slightly confused by pension quotation and application form

xylophone

If the ESPS guide applies, while your pension is in deferment see page 13 of the Guide.

It is possible (check with ISIO) that your GMP is revaluing at Fixed Rate rather than Full Rate (see link in previous).

With regard to increase in payment you'll need to check with ISIO.

You have mentioned that your State Pension Forecast shows that you have reached full NSP.

https://forums.moneysavingexpert.com/discussion/comment/81045294#Comment_81045294

GenX0212

xylophone said:

If the ESPS guide applies, while your pension is in deferment see page 13 of the Guide.

It is possible (check with ISIO) that your GMP is revaluing at Fixed Rate rather than Full Rate (see link in previous).

With regard to increase in payment you'll need to check with ISIO.

You have mentioned that your State Pension Forecast shows that you have reached full NSP.

https://forums.moneysavingexpert.com/discussion/comment/81045294#Comment_81045294

I think you have posted the wrong forum link in your last reply but yes I have reached full State Pension entitlement.
I will be getting in touch with Isio and post back in few millennia when they respond. Thanks.


Edit: Just realised my original post may have come full circle and have now realised why they tell you not to rely on the figures they provide !

xylophone

The link in my post above explains calculation of "starting amount" for NSP - because you were in a contracted out scheme, you had a COD/COPE which had to be taken into account at that stage.

With regard to GMP, the techzone link under If a member leaves the scheme before retirement, their accrued GMP entitlement is still revalued each year up to age 60/65........is relevant.

As a matter of interest, when your scheme was transferred into/subsumed by SERCO/changed administrator(?), were you not sent any information as to an effect on your deferred pension?

And yes, judging from other posts on the forum, getting information from your administrator..... well, let's say blood and stone and glacial speed come to mind....but you may be one of the lucky ones!

GenX0212

xylophone said:

As a matter of interest, when your scheme was transferred into/subsumed by SERCO/changed administrator(?), were you not sent any information as to an effect on your deferred pension?

I can't remember the exact wording but there was a letter to the effect that there was no change to the benefits/entitlements as a result of the transfer. Will try and dig out the original letter. Not only was the pension merged into the Serco scheme but it has also undergone a change of administrator at least three times, from epal, to Mercer to Isio. Many thanks for your input.