Civil Service Pension Savings Statement

Yorkie1

Ah, thanks. I guess I don't meet those criteria!

SimonSeys

Thanks @hugheskevi

Is it the same for Premium?   I thought the ABS didn’t use Premium’s ‘best of three’ but there is a difference between my alpha and premium pensionable earnings that I’m trying to understand. 

Simon 

hugheskevi

SimonSeys said:

Thanks @hugheskevi

Is it the same for Premium?   I thought the ABS didn’t use Premium’s ‘best of three’ but there is a difference between my alpha and premium pensionable earnings that I’m trying to understand. 

Simon 

ABS simply use pensionable earnings as at 31st March to calculate the Premium pension shown.

Alpha accrual on ABS will use pensionable earnings in the scheme year (1 April - 31 March) for the amount of alpha pension built up during the scheme year.

So the figures for alpha show the alpha pension you actually have as at 31st March, the figures for Premium do not show that, just an approximation.

ClashCityRocker1

hugheskevi said:

SimonSeys said:

Thanks @hugheskevi

Is it the same for Premium?   I thought the ABS didn’t use Premium’s ‘best of three’ but there is a difference between my alpha and premium pensionable earnings that I’m trying to understand. 

Simon 

ABS simply use pensionable earnings as at 31st March to calculate the Premium pension shown.

Alpha accrual on ABS will use pensionable earnings in the scheme year (1 April - 31 March) for the amount of alpha pension built up during the scheme year.

So the figures for alpha show the alpha pension you actually have as at 31st March, the figures for Premium do not show that, just an approximation.

Which brings me back to my question - I think it is safe to use the pensionable earnings for the year used in the alpha calculation when I work out the classic pension accrued in year as in nearly all cases (including mine!) it will be the figure used.

I think?

ClashCityRocker1

hugheskevi said:

Yorkie1 said:

To the OP, did your ABS actually set out the Pension Input Amount? Or did you calculate it yourself?

I've been looking at mine and can't see it

Pension inputs are shown on a separate Pension Saving Statement. 

These are sent to:

• Those with a pension input across legacy and alpha that exceeds £60,000
• Those who have requested one
• Those who earn £100,000+

I requested one. I'm putting chunks into AVC so need to know whether I'm under £60K allowance. Obviously a nil figure is very welcome (but don't trust it and can't reverse engineer it)

hugheskevi

ClashCityRocker1 said:

hugheskevi said:

SimonSeys said:

Thanks @hugheskevi

Is it the same for Premium?   I thought the ABS didn’t use Premium’s ‘best of three’ but there is a difference between my alpha and premium pensionable earnings that I’m trying to understand. 

Simon 

ABS simply use pensionable earnings as at 31st March to calculate the Premium pension shown.

Alpha accrual on ABS will use pensionable earnings in the scheme year (1 April - 31 March) for the amount of alpha pension built up during the scheme year.

So the figures for alpha show the alpha pension you actually have as at 31st March, the figures for Premium do not show that, just an approximation.

Which brings me back to my question - I think it is safe to use the pensionable earnings for the year used in the alpha calculation when I work out the classic pension accrued in year as in nearly all cases (including mine!) it will be the figure used.

That would be fine to calculate the classic value as at 31st March. The main thing is to remember is that when you get a pay increase, the first day after the increase the value of the classic pension is almost unchanged.

ClashCityRocker1

hugheskevi said:

ClashCityRocker1 said:

hugheskevi said:

SimonSeys said:

Thanks @hugheskevi

Is it the same for Premium?   I thought the ABS didn’t use Premium’s ‘best of three’ but there is a difference between my alpha and premium pensionable earnings that I’m trying to understand. 

Simon 

ABS simply use pensionable earnings as at 31st March to calculate the Premium pension shown.

Alpha accrual on ABS will use pensionable earnings in the scheme year (1 April - 31 March) for the amount of alpha pension built up during the scheme year.

So the figures for alpha show the alpha pension you actually have as at 31st March, the figures for Premium do not show that, just an approximation.

Which brings me back to my question - I think it is safe to use the pensionable earnings for the year used in the alpha calculation when I work out the classic pension accrued in year as in nearly all cases (including mine!) it will be the figure used.

That would be fine to calculate the classic value as at 31st March. The main thing is to remember is that when you get a pay increase, the first day after the increase the value of the classic pension is almost unchanged.

Yes indeed, thanks. Our pay rises happen on 1 July just to make it a fraction ore complicated. But not for this particular sum!