My Civil Service Pension

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  • hugheskevi
    hugheskevi Posts: 3,853 Forumite
    First Anniversary Name Dropper First Post Car Insurance Carver!
    My civil service was frozen when I left in 2006. I think it was worth £4,800. I asked for an up to date statement recently and it had increased by approx £1,000.
    Not sure why but I don't get sent annual statements.
    Perhaps the cabinet office are hoping some of us deferred members simply forget to claim?
    Civil Service pensions issue annual statements to:
    Who receives an Annual Benefit Statement?

    To receive an Annual Benefit Statement, you must meet the following eligibility criteria:
    1. You are an active member or an active pensioner member; or
    2. You were an active member or active pensioner member of either the Principal Civil Service Pension Scheme or alpha on 31 March 2017.
    This is compliant with general pension disclosure rules, which only require deferred members to be provided with a statement on request.

    The Civil Service scheme has 339,000 deferred members. Postage costs alone would be £342,390 p/a (based on cost of a large letter, before volume discount). Add costs of preparation and printing costs and sending statements to deferred members would probably cost over half a million pounds each year.

    So their reason for not issuing statements to deferred members probably has more to do with saving administrative costs and members not needing to know their pension has (unsurprisingly) increased by CPI rather than hoping members forget.
  • Scrounger
    Scrounger Posts: 1,007 Forumite
    Name Dropper First Post First Anniversary
    hugheskevi wrote: »
    The Civil Service scheme has 339,000 deferred members. Postage costs alone would be £342,390 p/a (based on cost of a large letter, before volume discount). Add costs of preparation and printing costs and sending statements to deferred members would probably cost over half a million pounds each year.

    So their reason for not issuing statements to deferred members probably has more to do with saving administrative costs and members not needing to know their pension has (unsurprisingly) increased by CPI rather than hoping members forget.
    Clearly an online portal would address the majority of these issues - Capita had it right. :rotfl:


    Scrounger
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