HSC PENSION SCHEME - UPDATE
‘Your Pension Choice’?
By now you all should have received a copy of Your Pension CHOICE leaflet with your June pay advice note; you may be wondering what CHOICE is all about and how it will affect you?
CHOICE has come about following a review of the NHS and HSC Pension Schemes carried out in partnership by trades unions and employers’ organisations. A new section of the HSC Pension Scheme was introduced on 1 April 2008 – known as the 2008 section. The review partners recommended that members of the 1995 section should be given the CHOICE to join the 2008 section.
You will receive a CHOICE pack in October 2009, this will contain information about both sections of the HSC Pension Scheme and a statement comparing your benefits in both sections. You will be asked to make a CHOICE to:
Ø Remain in the 1995 Section
or
Ø Move to the 2008 section and transfer all your 1995 service
There are a number of differences between the two sections, including the age at which you can draw your pension without reduction, the way in which your pension builds up and the flexibility in drawing benefits. These differences could affect your future lifestyle and retirement options in different ways.
HSC Pension Service will send Your Pension Choice Pack to your home address in the autumn. Please make sure your employer has your current address.
For more information Please Go To:
www.hscpensions.hscni.net/choice
New HSC Pension Service Website
The new HSC Pension Service website went live on Monday 29th June 2009. The new website will be the main source of information for members and employers.
The site is split into 5 main sections as follows:-
Ø Members/Former Members
Ø Pensioners/Family Benefits
Ø Employers
Ø Medical Advisors
Ø Your Pension Choice
Within each section there will be a variety of information sources in the form of Factsheets, Frequently Asked Questions (FAQs) and Decision Trees.
For more information Please Go To:
www.hscpensions.hscni.net