Restoration

We are making an additional payment to eligible members receiving a pension. Around 50,000 members qualify. You are eligible if you:

Were receiving a pension at both 31 March 2021 and 31 March 2022; and
Some or all of that pension was earned before April 1997.

Further details are in the Scheme newsletter News Brief Spring 2022.

We are sending letters to eligible members in June 2022 explaining the background to the payment. 

Most members do not need to take any action and payments will be made automatically into bank accounts in October 2022.

But for some members there are additional considerations which they need to take into account. The June letters contain the relevant details and refer to other documents (see “Supporting documentation” below). We have provided answers to some of the common questions being asked about restoration payments. Over the coming weeks we will be adding to this list so do check back regularly to see if there have been updates.

 

Frequently-asked questions

About the restoration payment

Documents to complete

How the restoration payment will be taxed (Updated as at 6 July 2022)

Pensions tax considerations

Pensions Tax workbook

Other questions including next steps and bereavement


Supporting documentation

Select your age group on the left (as at 5 October 2022) to access the relevant documents. 

 

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