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your pension and public service remedy

Length of course: 1 hour 30 minutes (online)

Summary

This course is designed to provide employees with an overview of the key pension changes resulting from the public sector age discrimination ruling (sometimes referred to as the McCloud remedy).

Aimed at

Employees who are affected by the age discrimination ruling are employees who:

  • Joined a public sector pension scheme on or before 31 March 2012; and
  • Were a member of the scheme on or after 1 April 2015; or
  • Who left service after 31 March 2012 but returned within 5 years.

Learning Objectives

  • Raise awareness of the key issues around the public sector age discrimination remedy
  • Explain terminology relating to the changes
  • Understand when and how affected members will receive a choice on how to take their past benefits
  • Learn about the 2015 career average scheme and how final salary benefits are preserved

Course Structure

Pension scheme

  • The basics of defined benefit & defined contribution schemes
  • Final salary & career average definitions
  • The annual allowance

Changes to public sector pensions

  • Background of the age discrimination case
  • Overview of the remedies

Removing past discrimination

  • Understanding the deferred choice underpin
  • Rollback
  • Tax considerations
  • Remediable Service Statements

Removing future discrimination

  • The scheme from April 2022
  • The salary link
  • Retirement ages
  • Retirement flexibilities
  • Paying more into your pension

Bringing it all together

  • Summary of the changes
Download agenda

For further details please contact events@affinityconnect.org or contact Training on 0800 019 6076.