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Court of Justice of the European Union judgement - update

Following the judgment of the Court of Justice of the European Union (CJEU) last month, we have started to write to capped members who we believe are affected by the ruling. This is to confirm our records, because we do not have all the data we need to calculate the increase due. We will be writing in tranches over the coming weeks, so members who believe they are affected, but do not receive a letter immediately, do not need to contact us.

New levy estimate for 2019/20

We’ve announced the amount of levy we will collect in 2019/20 will be £500 million. This is down from £550 million in 2018/19.

The Purple Book 2024

We’ve published the Purple Book 2024, the most comprehensive data and analysis of the UK defined benefit (DB) pension landscape.

We've retained our UK Stewardship Code status

We're delighted that the Financial Reporting Council (FRC) has confirmed we've continued to meet the standard of reporting required to remain as a signatory to the UK Stewardship Code for a fourth consecutive year. 

Next group of members receiving increased payments

We’ve started to make increased payments to pensioners whose benefits fell below 50% of the value of their accrued benefits because of a combination of the compensation cap and other factors. We’re aiming to increase payments to the majority of pensioners in this group by the end of September 2020.

How our TrainingMark has improved the customer experience

Our customer satisfaction results are currently at 97%, and we continually strive to improve this score. 

We’ve reached 1000 schemes

The Carillion Rail (GTRM) Pension Scheme has become the 1000th pension scheme to transfer to us since we were established in 2005. 

Letting someone else deal with us on your behalf

If you’d like someone else to deal with us on your behalf, you can send us a Letter of Authority or a Power of Attorney.

More Hampshire decisions confirmed

In our recent update about progress on uncapping PPF compensation, we still had to finalise whether to put a six-year time limit on arrears payments due to PPF and FAS pensioners. This followed the Court of Appeal’s judgments on the methodology for implementing the ECJ’s Hampshire decision and the PPF compensation cap. The Department for Work and Pensions (DWP) and our Board have now finalised those decisions.

How members can manage their benefits online

Our member website puts you in the driving seat. It gives you the freedom to access and manage information about your benefits and make informed decisions, at a time that best suits you.