We've were awarded the Pension Adminstration Award at the Pensions Age Awards. The awards, now in their seventh year, aim to reward both the pension schemes and providers across the UK.
As of 31 March 2019 our median gender pay gap stood at 13 per cent (17 per cent in 2018). The mean pay gap is 22.5 per cent (23.5 per cent in 2018); the median bonus gap is 30.5 per cent (unchanged from 2018) and the mean bonus gap is 66 per cent (59 per cent in 2018).
FAS payments are funded by the Treasury, so will not be affected by the difficult situation in financial markets. We’d also like to reassure you that we will be able to continue paying members as normal. Your usual payments will not change.
We’ve previously announced that we’d started making increased payments to all pensioners who were most affected by the Court of Justice of the European Union’s (ECJ or CJEU) ruling, because they were subject to the PPF compensation cap (either the standard cap, or the long service cap), which on its own had reduced their benefits to less than 50% of those they had accrued.
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