05/05/2020

 

COVID-19 continues to have widespread effects on all aspects of our lives. The Trustee therefore felt it was appropriate to provide a further update to RGPS members.
The Trustee can reassure members that:

- All pensioners will continue to receive their pension payments (and the March and April payments have been made as normal).
- Pension increases due in April were applied as normal.
- Our administrators, First Actuarial, continue to provide all the important services that members need.
- The Trustee is carefully monitoring the situation, we are regularly speaking to advisors and will take any action needed as and when required.

In summary, while the present situation inevitably means a slightly different way of working, it continues to be "business as usual" in all the important aspects of running the RGPS. However, there are a few changes for members:

- Transfer values are currently suspended, in line with guidance recently issued by the Pensions Regulator, while the Trustee considers terms for Transfers (please see the previous RGPS pensions news article dated 14 April 2020 in the next box). When transfer value quotes resume,  members will receive this letter from the Pensions Regulator, FCA and Money & Pensions Service (click HERE to view).
- If you need to send birth or marriage certificates to First Actuarial then there are alternative methods to posting that are available.
- In these challenging times, pension savers are being increasingly targeted by "scammers". The RGPS administrators are being extra vigilant and the FCA has updated their ScamSmart help (click HERE to view).

As always, if you have any questions then get in touch using the Contact Details section of this website. You also may be able to find the answer to queries on the Pensions Advisory Service website (click HERE to view).