New Capita-run Civil Service Pension Scheme - problems (what a surprise!)

cmayflower

https://forums.moneysavingexpert.com/discussion/comment/82128590#Comment_82128590

i sent off my pension application form 6 weeks ago, I'm not expecting to hear back from them with a quote soon looking at the information within this thread. My pension is split into 3 parts due to a bulk transfer, it is the pre 2008 Nuvos that i want to put into payment, however there is no information on the portal about any of my pension information, my covering letter set out the 3 pensions i have, a copy of my last pension statement prior to leaving and the protections under rule of 85 that allow me to draw that part of my Nuvos pension, fingers crossed for November, but i very much doubt it going by the current circumstances

swisscheese3

The Alpha added pension used to be columns like opening/closing balance, contributions, factor and accrued. Now it appears they just take the annual pension amount you’d get at NPA/SPA and multiply it by CPI. Does that amount to the same thing but without the nuances?

Universidad

https://forums.moneysavingexpert.com/discussion/comment/82129241#Comment_82129241

It's a lot harder to work out what they're doing, because they give you less information, and some of it is incorrect by definition.

Here's an example of that, relating to total pension: MyCSP’s approach was less than perfect. It gave a single undated total for components with different pension ages, which was potentially misleading, but not actually wrong: it was simply the sum of the current balances.

Capita has taken essentially the same total and labelled it as the pension payable at a date matching NPA. That is substantively wrong.

If the EPA component were taken at 68, it would have received a late-payment supplement/age additions. If the pension were taken earlier, the NPA portion would have been reduced. There is no retirement date at which both raw balances are payable without adjustment.

But no such adjustments are made by Capita: they've merely attached the NPA date to an undated balance total, turning MyCSP’s ambiguity into a false claim.

Dave46049

https://forums.moneysavingexpert.com/discussion/comment/82126479#Comment_82126479

Have you had anything yet?

Mine is still outstanding….

HouseMartin567

https://forums.moneysavingexpert.com/discussion/comment/82132399#Comment_82132399

No, I haven’t. The latest update did say there were ~70/80k still to be uploaded during September and October so I’ve decided to wait it out until November before I contact them.

534N22

the portal is showing as “under maintenance “ has since yesterday.

SimonSeys

https://forums.moneysavingexpert.com/discussion/comment/82119059#Comment_82119059

Interesting @hugheskevi. I didn’t realise that but between the age of 50 and 55. Where is that written down (I don’t doubt you, but like to check things myself)

Also is the above affected by whether someone joined the scheme pre April 2006 or after? (I’m pre, so can take benefits from age of 50),

If I were to retire now (I was 50 earlier this year), would the buy out rate be based on the lower or higher amount.

Thanks again for your patience with my many questions!

redbaron911

In case this is helpful to anyone.

I received my totally incorrect pension statement in July and am still waiting for a revised / updated quote some 9 weeks later.

hugheskevi

https://forums.moneysavingexpert.com/discussion/comment/82132710#Comment_82132710

You won't find anything outside of the scheme rules. Rule A.5 on page 12 is the rule relevant to this circumstance, particularly A.5(2). Note this does not apply in cases of ill-health.

For it to be relevant, the individual must have joined before 6th April 2006 and so have a protected minimum pension age of 50.

I think the buyout amount would be based on the lower figure, but not 100% certain.

Dave46049

I notice the recorded message on the CSP number now states the team "cannot handle abs queries on this number"