Civil service pension - retirement model problems

Civvie1984

My thoughts exactly. So what on earth might be happening with the model, which previously seemed to be providing perfectly reasonable figures? 

hugheskevi

Civvie1984 said:

My thoughts exactly. So what on earth might be happening with the model, which previously seemed to be providing perfectly reasonable figures? 

Do you do anything beyond just making normal contributions? For example, do you or have you ever made EPA contributions, Added Pension contributions, ever transferred a pension in, anything like that?

My wife made EPA contributions until 2022, and the modeller generates total rubbish for her predicted pension.

CorseyEdge

I believe the modeller defaults to Maximum lump sum ('25%'). I know many who have had to alter that setting back to 0% initially until it started to show mildly correct results. Have you tried setting that back @Civvie1984? This popular alternative calculator is useful to check results - https://civilservicepensioncalculator.co.uk/

Wobble101

hugheskevi said:

Civvie1984 said:

My thoughts exactly. So what on earth might be happening with the model, which previously seemed to be providing perfectly reasonable figures? 

Do you do anything beyond just making normal contributions? For example, do you or have you ever made EPA contributions, Added Pension contributions, ever transferred a pension in, anything like that?

My wife made EPA contributions until 2022, and the modeller generates total rubbish for her predicted pension.

I suspect my EPA contributions might be the issue with the discrepancy I’ve found between the previous estimates I received and now (perhaps the older estimates were error prone too).

Obviously don’t know if EPA helps explain the original post. 

@CorseyEdge I played around with the 25% option (I think it does default to 25%)  and got different options - but none were anything like what I’d received under the old modelled. 

TheSpectator

Wobble101 said:

hugheskevi said:

Civvie1984 said:

My thoughts exactly. So what on earth might be happening with the model, which previously seemed to be providing perfectly reasonable figures? 

Do you do anything beyond just making normal contributions? For example, do you or have you ever made EPA contributions, Added Pension contributions, ever transferred a pension in, anything like that?

My wife made EPA contributions until 2022, and the modeller generates total rubbish for her predicted pension.

I suspect my EPA contributions might be the issue with the discrepancy I’ve found between the previous estimates I received and now (perhaps the older estimates were error prone too).

Obviously don’t know if EPA helps explain the original post. 

@CorseyEdge I played around with the 25% option (I think it does default to 25%)  and got different options - but none were anything like what I’d received under the old modelled. 

Have you had a 23/24 ABS or are part of the group that did not get one. If you haven't had an ABS (like myself) then the modeller is going to be wrong.

Civvie1984

The 25% obviously makes a difference, but I still can’t get anywhere near the amounts it was showing some months ago. I’ve submitted a query toMy CSP, so let’s see what they say. 

Wobble101

TheSpectator said:

Wobble101 said:

hugheskevi said:

Civvie1984 said:

My thoughts exactly. So what on earth might be happening with the model, which previously seemed to be providing perfectly reasonable figures? 

Do you do anything beyond just making normal contributions? For example, do you or have you ever made EPA contributions, Added Pension contributions, ever transferred a pension in, anything like that?

My wife made EPA contributions until 2022, and the modeller generates total rubbish for her predicted pension.

I suspect my EPA contributions might be the issue with the discrepancy I’ve found between the previous estimates I received and now (perhaps the older estimates were error prone too).

Obviously don’t know if EPA helps explain the original post. 

@CorseyEdge I played around with the 25% option (I think it does default to 25%)  and got different options - but none were anything like what I’d received under the old modelled. 

Have you had a 23/24 ABS or are part of the group that did not get one. If you haven't had an ABS (like myself) then the modeller is going to be wrong.

Yes, I’ve had my ABS so that isn’t the issue. Stunned to hear some haven’t - how frustrating. 

Grindelwald

For those that have posted about issues with the updated Civil Service Pension Retirement Modeller tool on the CSP Portal it looks like it is now only showing your entitlement for Alpha but not including any legacy pensions (e.g. Classic) if you click on the arrow alongside your proposed pension about it says 100% Alpha even though I have over 45 years in Classic. Have emailed CSP (three times since November with no response received ) - submitted 2 complaint forms (states you will receive a response within 2 days but still no response received) and have tried phoning on numerous occasions as never able to reach a human being. Will escalate via my departments HR team next.    

Bravebart

It's highly likely there are errors in anything related to pension calculations, either in online modellers or in quotes. I've just finished a painful nine months of arguing with CSP about several things relating to my pension quote, including Alpha actually decreasing! They eventually admitted their mistakes and worryingly provided this quote "The Alpha benefits have also been checked and there was an unfortunate error with the system that meant the wrong figures were used for some of your Alpha benefits".

A system error! Not just personal data error. I dread to think how many have incorrect quotes. 

Pastry_John

https://forums.moneysavingexpert.com/profile/Civvie1984 - I'm in the same boat so it's comforting to hear I'm not the only one.

I queried what i considered to be a significant discrepancy in what my 2024 ABS was showing compared to the new modeller with CSP in Dec. I received a very short and confusing reply which essentially stated my ABS was wrong due the remedy period not being applied to a pension sharing order when I divorced in 2015. It felt like a brush off so I've written back with the following.

My current ABS is showing annual pension of Alpha £2,962 + Nouvos £25,147. It also states that Pension debits have been applied from pension sharing orders.

 Under the pension sharing order 19% of my pension was transferred to my ex-wife in 2015. My understand is that at that point a sperate pension was created for her. That being the case any adjustments under the remedy should be applied separately to our respective pensions. Further, under the remedy there should be no dis-benefit to our pensions.

 Under the modeller at age 65 (with no lump sum taken and no increase in salary) it’s indicating an annual pension of £13,034 (option A, legacy) or £21,713 (option B, Alpha).

 This is not a small discrepancy, based on those figures I’ll be working for another 6 to 7 years, increasing my pension benefits annually only to be in a worse position than the pension benefits I already have under my current ABS! Surely that can’t be right? Just to add, in May 2024 under the previous modeller it was showing an annual pension of £34,909 at age 65.

I'm happy to disclose any reply I get back in case there's others in the same position. One thing that did occur to me was whether the new modeller figures include the Local Authority pension I transferred into my CSP back in 2009.