How does SPPA pension work?

Your pension contributions are deducted from your monthly salary by your employer and you receive income tax relief on your contributions. Your employer contributes an amount equal to 20.9% of your pensionable pay into the scheme on your behalf.

How do I find my SPPA number?

You can find this on your pension award letter, your pension payslips, your P60 or any other correspondence which you have received from SPPA Payroll.

Can I view my NHS pension online?

Accessing your statement You’ll be able to access your statement online using the Total Reward Statement portal and ESR Employee Self-Service for organisations that use the facility.

What does maximum commutation mean?

Commute part of your pension Many people choose to take part of their pension benefits as a lump sum rather than as annual income. This is known as ‘commutation’ and, under current tax rules, you can take a maximum of 25% of the value of your pension fund tax-free.

Are you taxed on your pension?

The money you receive from pensions is classed as income, and most income is taxed.

What percentage of NHS salary is pension?

The amount you pay into your pension is dependent on how much you earn and the current contribution rates are between 5% and 14.5%. Your rate is determined on your full-time equivalent pensionable pay. Your contributions are deducted from your gross pay which means less of your income is taxable.

What is a HMRC registered pension scheme?

An occupational pension scheme or personal pension scheme that is registered with HM Revenue & Customs under the Finance Act 2004. Approved schemes that already existed on 5 April 2006 were deemed to be registered pension schemes from the following day, when pensions tax simplification came into effect.

How do I find out about my NHS superannuation?

NHS Pensions provides active and deferred members with a Total Reward Statement (TRS)/Annual Benefit Statement (ABS) through an online facility, known as Total Reward Statements (TRS). This service is free of charge and is a faster and more convenient way for you to obtain information about your NHS pension.

Where can I register for the SPPA Pension Service?

Use the links below to login or register for our various online services. Was this information useful?

How many pensioners are there in SPPA Scotland?

SPPA is also responsible for scheme regulations and for all the administrative tasks required to serve over 73,000 active members, more than 21,000 deferred members and over 79,000 pensioners and dependants. The two schemes are statutory and guaranteed by law, providing pensions and life assurance for teachers in Scotland.

Can a financial advisor request a PSS on SPPA?

We only accept requests for Pension Savings Statements (PSS) from Financial Advisors and Accountants either singly or as a bulk request on the SPPA… Under the provisions of the Pensions (Increase) Act 1971, made in accordance with the Social Security Pensions Act 1975, the increase to be applied…

Where can I Find my Scottish public pension?

OUR ONLINE MEMBER SERVICE. Scottish Public Pensions Agency ‘My Pension’ is the easiest and most convenient way to access a range of information regarding your pension benefits at a time that suits you.

How does SPPA pension work? Your pension contributions are deducted from your monthly salary by your employer and you receive income tax relief on your contributions. Your employer contributes an amount equal to 20.9% of your pensionable pay into the scheme on your behalf. How do I find my SPPA number? You can find this…