The McCloud judgement declared that the transition of public sector pensions introduced in 2015 was illegal. This explains the relevance to the Teachers’ Pension schemes.
McCloud, Age Discrimination
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Hi Many thanks for your great videos on Transitional Protection Choice.
Just wondering if you could produce one for those who have already retired and are affected by the Transitional Protection Choice?
I’ve just received my Statement of Retirement Benefits outlining my choices and it just doesn’t give all the information I need.
For example not clear what Tax implications are involved if too much tax free lump sum was taken and needs paying back if Option 2 is taken. Does interest need to be paid and does tax need to be paid on the amount owed to the pension scheme?
Lots of other queries throughout the form, so one of your lovely clear videos would be greatly appreciated. Thanks Ann
Yes, that would be brilliant. Not received my RSS yet as a retired transitional member, but would love to see some examples of option 1 and option 2 choices, especially if already taken the full 25% tax free lump sum. Its worrying not knowing if we are going to get hammered for an overpayment. Many thanks.
This video looks at the RSS for someone who has already retired: https://youtu.be/_YweZES00JM