how does my pension increase before i start taking it?

When you leave Pensionable Service, you become a ‘Deferred member’ until you start drawing your pension. There are rules for increasing deferred pensions and part or all of your pension is then increased each year until your pension starts to be paid, to help protect it against the effects of inflation This pre-retirement pension increase is known as ‘revaluation’. The amount of the yearly increase depends on which section you are in. You can log into MyPension.com to see the current amount of your deferred pension.

I have seen adverts on social media and online saying that final salary pensions are 'Frozen’ and i should consider transferring it to unlock its potential?

Some people think deferred pensions are ‘frozen’ –in fact, scammers may try to tell you this as a tactic to entice you to transfer out your pension to gain a ‘higher’ investment return or invest in an ‘opportunity’. Please note that final salary pensions are a valuable pensions asset because they are guaranteed benefits which are not linked to direct individual investment returns.

Can I take my pension before my Normal retirement age?

You may be able to take your pension before your Normal Retirement Age, for further information please contact XPS administration who can provide you with information specific to your circumstances.

How do i find out what my income will be after i retire?

We’ll write to you about five months before you’re due to retire.

We’ll let you know how much your pension will be and explain the options you have. If you’d like to know before then, write to the XPS Administration team or call the helpline. The contact details can be found on the contact us page.

Will my pension increase once I retire?

I have changed my personal details, what should i do?

If you move home, you can log into MyPension.com and update your address online.

Alternatively, you can download a form here, or write to the XPS Administration team.

If you change your email address, please log into your account on MyPension.com and change it there.

For help on how to change your personal details, click here.

How do I find out what my pension would be worth if i wanted to transfer it to another pension scheme?

Most of our members can see the estimated Cash Equivalent Transfer Value (CETV) of your deferred pension by logging into MyPension.com. XPS update the estimated CETV every three months. If you would like to speak to a financial adviser about transferring your pension to another scheme, you can ask us to send you a full transfer pack. Please note that we can only deal directly with Financial Conduct Authority (FCA) regulated advisers.

Please note It can take up to 20 working days for the pack to reach you. Your pack will include a CETV that’s guaranteed for a certain time. If you decide to proceed with your transfer, you must return all the forms and documents within the guarantee period.

Under statutory requirements we only provide one transfer pack free of charge in any twelve-month period (so please only request one if you need it). If you’d like us to give you more than one transfer pack within a year, you’ll need to pay us £450 for every extra calculation.

How do I nominate who will get my death benefits if I die?

To make sure your money goes where you want it to, please keep your nomination form up to date. If you haven’t yet started to take your benefits, you just need to update your nomination form. It’s important that you regularly review your nomination form, especially when life events occur for example, such as marriage, divorce, or the birth of a new child.

You can log into MyPension.com and update your nomination details online.

How do I, or my loved ones, let you know a Scheme member has died?

Please call the helpline as soon as possible. You’ll find the phone number in the contact us section. A member of the administration team will guide you through the next steps, including how to apply for any benefits that may be payable.