Michelle Storer, Senior Training Consultant for Civil Service Pensions, returns to the podcast to talk us through the annual Pension Increase. She explains what PI is, how it works and who qualifies for it. We also discuss some frequently asked questions from members, and some common misconceptions about this yearly increase. Useful links: Transcript of this episode Accessible version of this episode Yearly Pensions Increase (PI) - Civil Service Pension Scheme HMRC online services: sign in or set up an account Latest Pensioner Newsletter (featuring ‘your P60 explained’ video) See omnystudio.com/listener for privacy information.
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10:10
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10:10
2015 Remedy (McCloud) revisited
Kevin Hughes, a policy expert from Cabinet Office, returns to the podcast to talk us through the latest position when it comes to 2015 Remedy (McCloud). From Immediate Choice and Deferred Choice Underpin, to Annual Benefit Statements and the Retirement Modeller, Kevin explains what impacted members need to do, and when they’ll make their choice. Useful links: Transcript of this episode Accessible version of this episode Podcast - Civil Service Pension Scheme 2015 Remedy Updates - Civil Service Pension Scheme Pension Portal (and Retirement Modeller) Annual Benefit Statement (ABS) - Civil Service Pension Scheme EPA (Effective Pension Age) - Civil Service Pension Scheme See omnystudio.com/listener for privacy information.
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13:44
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13:44
Redundancy and compensation: what does it mean for your pension?
Redundancy can involve significant change and uncertainty. Liliana Gonzalez from the Civil Service Pensions Training Team returns to the podcast to share information for those affected by it. She explains the implications of redundancy on pensions and outlines the operation of the Civil Service Compensation Scheme. Useful links: Transcript of this episode Accessible version of this episode Podcast - Civil Service Pension Scheme Redundancy - Civil Service Pension Scheme Check your State Pension age - GOV.UK Public Sector Transfer Club - Civil Service Pension Scheme Guide to Registering for the Pension Portal - Civil Service Pension Scheme See omnystudio.com/listener for privacy information.
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7:11
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7:11
Are you thinking about retiring abroad?
Some describe the idea of retiring abroad as “the ultimate dream”. But how does it work, practically speaking? Rob and Emily chat to MOJ’s Lara Muñiz-Fernández about her plans to retire abroad and the preparations she’s making. We’re also joined by Peter Spain, Head of Pensions Policy and Technical from Cabinet Office, who sheds some light on the technicalities of retiring overseas, how payments work, and the key things to consider if this is your goal. Useful links: Transcript of this episode Accessible version of this episode Podcast - Civil Service Pension Scheme Overseas Payment Mandates - Civil Service Pension Scheme Receiving your pension overseas - Civil Service Pension Scheme Moving, living and retiring abroad | MoneyHelper Pension Portal The new State Pension: If you've lived or worked abroad - GOV.UK International Pension Centre - GOV.UK Northern Ireland Pension Centre | nidirect Check the recognised overseas pension schemes notification list - GOV.UK Voting if you move or live abroad: Overview - GOV.UK Living abroad after retirement | Age UK See omnystudio.com/listener for privacy information.
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11:05
Planning for retirement – how does the state pension fit in?
Planning for retirement – how does the state pension fit in? On his first podcast appearance, Joe McLaughlin from the Civil Service Pensions Training Team talks to us about the State Pension, how it works, and the vital role it can play in your retirement finances. We talk about how to track your State Pension as it builds up, how to give it a boost and things you’ll need to consider when you come to claim it, such as tax. Useful links: · Transcript of this episode · Accessible version of this episode · State Pension - GOV.UK · Check your State Pension age - GOV.UK · The new State Pension: If you've lived or worked abroad - GOV.UK · Pension calculators - Civil Service Pension Scheme . Podcast - Civil Service Pension SchemeSee omnystudio.com/listener for privacy information.
The Civil Service Pension Scheme is one of the best workplace pension schemes in the UK public sector. But what makes it so good?
We want members of the scheme to feel informed and empowered when it comes to planning for their financial future, but we know that pensions can feel complicated and difficult to understand.
This podcast aims to make things simple - whether you're working or retired, if you've left the Civil Service - or even if you're thinking about joining the Civil Service - there's something for everyone.
Hosts Rob Walker and Emily Eccles from MyCSP (the scheme administrator for Civil Service Pensions) take things back to basics. Their conversations will help you get to grips with your pension and even make some informed decisions about your future. No question is too small and no answer is too complex.
Each episode explores different aspects of the scheme. With expert guests and members talking about their life experiences and perspectives, and how these events have affected their views on retirement and their pension. Each informative episode could help you think about your pension in different ways.
Many people believe that a pension is something to think about later in life, or something to get round to dealing with eventually. That just isn't true. It’s never too early to start saving or planning for your future beyond work.
Your pension is one of your most valuable assets and the decisions you make now can have a huge impact further down the line. It is a crucial personal financial benefit and your ticket to living your best life when you're no longer working. It's key to making your retirement years as fulfilling and rewarding as possible.
From learning the basics, we explore a number of topics surrounding pensions and the scheme itself. Our first series features case studies of members in their 20s and 30s through to retirement, as well as discussions around the Gender Pension Gap, discovering how common life events can affect your ability to save for the future and the steps you can take to boost your pension.
Even if you've never worked for the Civil Service before, this podcast is full of useful information and advice for anyone with a workplace pension. We hope you enjoy it.
To find out more about the scheme, visit www.civilservicepensionscheme.org.uk
UK