Linking and Aggregation are options for anyone that is newly appointed by an RCPS employer, enrolled in Nuvos and already has a preserved RCPS pension. It is a means of joining both pension elements together to create one pension.
Linking relates to preserved final salary benefits and Aggregation relates to preserved Nuvos benefits.
Preserved final salary benefits (Classic, Classic Plus and Premium) - Linking
In order to qualify for the linking option, the break in service must be less than 5 years, the member must not have left on redundancy terms, and the former pension must not be in pay, i.e. preserved.
This linking option will mean that a service credit is applied to the later Nuvos membership and all benefits will then be payable, without any actuarial reduction, from age 65.
The pension benefits derived from the service credit will retain the final salary link i.e. will be based on the Final Pensionable Pay on leaving Nuvos.
If a member is eligible for this option, JSS will write to the member with further information and any decision to link must be made within the first year of re-joining the scheme.
Preserved Nuvos benefits - Aggregation
The default option is that the former preserved Nuvos benefits will be aggregated with later Nuvos membership. Within the first year of re-joining, however, members can elect for the aggregation not to apply. JSS will contact those members affected.
There are a number of things to consider when thinking about aggregating former Nuvos membership with later Nuvos membership these are detailed below:
If you have any questions regarding Linking or Aggregation please contact JSS.
© JSS 2017
Last updated: 11 Oct 2017