Did you know?
On this page we hope to provide you with regular information that may be of interest to you. Most of the information will at some point have been on our home page.
Each piece of information can be clicked on to open up for more detail.
The RCPS is an unfunded pension scheme. It is not based on investments. This means that if the stock market dips, share prices fall or investments underperform there is no impact on the RCPS. The pension benefits that members accrue and pensions in payment are unaffected.
Do you know how much you will need to live on when you retire?
The get to know your pension - external link page lists 10 things that you need to know in order to plan for your retirement.
Loughborough University has carried out independent research to help us picuture the lifestyle we could have in our retirement. The retirement living standards page enables you to look at various scenarios of what life in retirement looks like.
The Money Advice Service provides a calculator which can provide you with an estimate of the income you could expect when you retire.
You can access the calculator from the get to know your pension page.
18 million State Pension forecasts have been checked online by people who are planning for retirement.
You can read about this and also check your State Pension by going to the Get to know your pension page.
JSS have retirees and deferred members living abroad in non-EU countries and they continue to have access to their pension, it is paid every month as usual and the same will apply post Brexit for all members.
JSS has a statutory duty to issue pension scheme information to new members within one month of their details being provided to JSS.
Regulations also require JSS to send pension scheme information within two months if we haven't received new starter details from the employer, which is obviously challenging if employers don't send new starter details to JSS in a timely manner.
The service level for employers to send JSS new starter details is 10 working days after their start date, which happens 93% of the time, and on average JSS send information out within 2 working days. Generally new starters are receiving their information within the prescribed deadlines but not all do and for that reason we've published this item to remind employers of their responsibilities.
It is important to make sure that you are prepared for later life. The Mid-life MOT - external link page provides a package of support with pension planning and working options that you may find useful.
Following uncertainty about the inflation proofing of the State Pension if there is a no deal Brexit, the Government has recently confirmed that for a year after the UK leaves the EU it will continue to uplift State Pension payments for individuals who retired to live in EU countries.
The Government has also confirmed that it wants to secure continued reciprocal arrangements covering the inflation proofing of State Pensions for EU nationals in the UK and for UK nationals within the EU, even in the event of a no-deal Brexit.
On 9 January 2019 legislation came into force banning pensions cold calling. This means that it is now illegal for companies to make unwanted or unsolicited phone calls to people about their pension.
It only applies to companies calling from within the UK and does not apply to companies outside of the UK, or to text messages or emails.
According to the Financial Conduct Authority (FCA) scammers are stealing as much as £91,000 per victim. According to the Money Advice Service there could be 250 million unsolicited pension scam phone calls each year.
The ban does not apply where
- The caller is authorised by the FCA, or is the trustee or manager of an occupational or personal pension scheme
- The recipient of the call consents to calls or has an existing relationship with the caller
If you receive a cold call about your pension you are encouraged to gather as much information as possible during the call and then report it to the Information Commissioner. - external link
Following the sending of the Annual Benefit Statements, JSS receive many requests from members about updating their personal details e.g. Changes of name, Death Benefit Nomination (DBN), home address, marital status etc.
When you change your details with the respective HR/Payroll departments, this information is not routinely passed across to JSS. You should make sure that you also notify JSS at the same time by sending an email to email@example.com including either your pension scheme number (this can be found on your Benefit Statement) or National Insurance (NI) number.
If you reached State Pension age before 6 April 2016, you could get more money if you delay claiming or stop your State Pension. More information can be found on the Deferring your State Pension - external link page.
Both members and employers are welcome to visit us by appointment during office hours (8.30am to 4.30pm Monday to Friday excluding bank holidays). We can offer a private interview room for confidential matters. Please feel free to contact us to arrange a time that is convenient for you.
If you are not expecting contact from an organisation then you should always verify who they are. No reputable organisation will mind you checking their credentials or calling them back. Never give out personal details or information to cold calls, or respond to emails or texts if you are unsure.
If you cannot verify the identity of the person contacting you, never disclose your personal details.
HMRC takes fraud and scams very seriously and provides information regarding current known scams and what to do. The links below provide further information.
- Genuine HMRC contact and recognising phishing emails - external link contains a current list of digital and other contact that is issued by HM Revenue and Custom.
- Phishing emails and bogus contact examples - external link contains examples of scams and phishing that HMRC are aware of
If you are unsure always check first and never give out personal details.
The JSS Pension scams and fraud page provides more information.
There are a number of benefits and help available when you retire, a few of them are listed below:
- Bus Pass - external link
- London Freedom Pass - external link
- Senior Railcard - external link
- TV Licence - external link
- Winter Fuel Payment - external link
- Pension Credit - external link
- Attendance Allowance - external link
- Carers Allowance - external link
Citizens Advice - external link can provide further information on benefits you may be entitled to.
Please note that JSS cannot comment, endorse or assist on any of these benefits.
The government has a free and impartial service called Pension Wise that helps you understand your pension options.
The Pension Wise - external link - website contains information about defined contribution pensions, it will not recommend any products or tell you what to do with your money.
The Pension Tracing service - external link - provides a way of tracking down pensions from previous jobs or personal pensions that may have been forgotten about.
The State Pension is a regular payment that you may get when you reach state pension age, you need to claim this because DWP do not pay this to you automatically. On 6 April 2016 the New State Pension was introduced. The new state pension page - external link -.contains information and instructions on how to claim your state pension
Check your State Pension
You can use the Check your State Pension - external link - website for an estimate of what you may receive.
© JSS 2020
Last updated: 18 Mar 2020