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Pensions

Discussion in 'Scotland - education news' started by pedagod, Jan 14, 2016.

  1. pedagod

    pedagod New commenter

    Just checked my 2015 pension statement. According to SPPA my new pension is 3 ( yes three ) percent of what was predicted in 2014.
    Of course it's a mistake but it's taken nearly 2 years to update to this. That percentage level accurately reflects my confidence in them.
     
  2. Effinbankers

    Effinbankers Lead commenter

    You'll probably be on the new pension scheme - that's why the amount is low

    Pension earned before 2015 is in a "different pot" so to speak. It's not been lost
     
  3. pedagod

    pedagod New commenter

    I am in the new scheme but that is not the section that the errors in the statement apply to. I am sure the corrections will be made but I really don't think much of their quality assurance. All that was needed to spot such a glaring error was to compare the 2015 against the 2014 statement.
    I also thought we were to be provided with a statement each year. Why has it taken nearly 2 years to provide this latest one?
     
  4. Liviboy

    Liviboy Occasional commenter

    This is the 2015 statement - so the final statement for most of us in the old STSS pension. This statement has nothing to do with the CARE scheme.

    Pedagod - whilst slow, this statement is the April 2015 statement so by my calculations it's 9 months late, not nearly 2 years :)

    It likely won't be corrected if you don't contact them. My statement last year was wrong (same issue as you it would seem) a quick phone call had it sorted instantly.
     
  5. jonowen

    jonowen Occasional commenter

    Glad I'm not the only one having exactly the same reduction problems. My brother is a financial adviser and he has never come across a pension scheme body (STSS) as disorganised as this lot. They are so slow in updating stuff and Liviboy - you are so lucky to have yours sorted with just a phone call. You are absolutely correct in that if you DON'T contact them they most definitely not sort it - it's only our pension after all - why should they worry? (that seems to be their attitude - a bit like our Unions' - choose your pace of action - dead slow or stop)

    Joni x
     
  6. sioken39

    sioken39 New commenter

    Same here, was shocked to see such a piddling amount, especially as I'm due to retire soon. Fired off an email to them, and inspite of the website saying it might be 6 weeks before they could answer, due to high demand (is there ever any other kind of demand!) they got right back to me. Turns out the 3 years worth of benefits attributed to me was the 3 years I worked in London, just hadn't added to my Scottish service. They said they'd give me an accurate projection once I sent date of retiral.
     
  7. gnulinux

    gnulinux Occasional commenter

    Anyone who got an enhancement to their teachers pension is in for a shock. Scottish tax rate of 20% appears to have been applied to it. Mistake??
     

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