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Pensions

 

Cambridge University Assistants’ Contributory Pension Scheme (CUACPS) FAQs

 

Pension Basics

What is the CUACPS?

The CUACPS is the Cambridge University Assistants’ Contributory Pension Scheme.  The CUACPS was established by the University of Cambridge in 1923 to provide retirement benefits for Assistant Staff employed by the University and to provide benefits for certain staff employed by employers associated with the University.

 

What is the CUADCPS?
 

The CUADCPS is the Cambridge University Assistants’ Defined Contribution Pension Scheme.  It is run by SEI to provide retirement benefits for Assistant Staff employed by the University and to provide benefits for certain staff employed by employers associated with the University.

 

I am a Hybrid member.  What does this mean?

Employees who joined the CUACPS on or after 1 January 2013 are members of the University’s hybrid pension arrangement.  This comprises of two separate pension schemes, the CUACPS and the CUADCPS.  More information about the schemes is available from the Hybrid guide and the scheme factsheets which are available at:

https://www.pensions.admin.cam.ac.uk/cps/scheme-guides-factsheets

 

I am a CRB member.  What does this mean?

Employees who joined the CUACPS before 1 January 2013 are members of the CRB section of the scheme for their membership of the scheme on and after 1 January 2013.  More information is available from the CRB guide and scheme factsheet which are available at:

https://www.pensions.admin.cam.ac.uk/cps/scheme-guides-factsheets

 

Before 1 January 2013 you would have been a member of the final salary section of the CUACPS and the Explanatory Notes about the final salary section are available at:

https://www.pensions.admin.cam.ac.uk/cps/scheme-guides-factsheets
 

What is a Final Salary Member?

If you were a member of the CUACPS before 1 January 2013 you would have been a member of the final salary section of the scheme for your membership of the scheme before 1 January 2013. The Explanatory Notes about the final salary section are available at:

https://www.pensions.admin.cam.ac.uk/cps/scheme-guides-factsheets

 

What contributions do I pay to the scheme?

Please see the Members Guides at:

https://www.pensions.admin.cam.ac.uk/cps/scheme-guides-factsheets

 

Can I reduce my contributions to the Scheme?

Your contributions to the CUADCPS are set under the rules of the scheme and it is not possible to reduce these.

 

What does the University pay into the Scheme?

Please see the latest Summary Funding Statement at:

https://www.pensions.admin.cam.ac.uk/cps/scheme-guides/archives

 

What is Defined Contribution (DC) pension scheme?

A DC pension scheme provides retirement benefits based on the size of your fund in the scheme.  The value of the fund depends on the contributions which have been paid into the fund, the investment performance of the fund and any charges which are deducted from the fund.
 

What is SEI?

SEI is an investment company which provides the CUACDPS

 

What is GDPR?

The General Data Protection Regulation (GDPR) is a regulation in EU law on data protection and privacy for all individuals in the European Union European Economic Area (EAA) and contains provisions and requirements relating to the gathering, holding and processing of personally identifiable information.   The regulation became enforceable on 25 May 2018. 

As a result, the trustee of the CUACPS is required to provide members with information about how it holds and processes your data and this is included in the Fair Processing Notice which is available at:

https://www.pensions.admin.cam.ac.uk/cps

 

What should I do if I have changed my name?

You should send the original documents evidencing the change to the Pensions Office.

https://www.pensions.admin.cam.ac.uk/cps/update-my-details
 

My bank details have changed how do I let you know?

Please complete and return the Change of Bank Details form available at:

https://www.pensions.admin.cam.ac.uk/cps/update-my-details

Alternatively, please send the new bank details by letter.

For security reasons we cannot accept changes of personal details by e-mail and any change of details must be signed by you.  However, we can accept scanned copies of signed forms and letters providing they are scanned to us as PDF files.
 

How do I let you know about my change of address?

If you are a pensioner or have left the scheme without an immediate entitlement to a pension please complete the change of address form at:

https://www.pensions.admin.cam.ac.uk/cps/update-my-details

Alternatively, please send the details of your new address by letter.

For security reasons we cannot accept changes of personal details by e-mail and any change of details must be signed by you.  However, we can accept scanned copies of signed forms and letters providing they are scanned to us as PDF files.
 

If you are an active member of the scheme please follow the processes required by your employer to update your address with them.

 

Can I bring my documents to you?

Yes, you can bring any original documents to the Pensions Office at:

Greenwich House

Madingley Road

Cambridge

CB3 0TX.

The office is open from 9.00 a.m. to 5.00 p.m. Monday to Friday and we will copy your documents for our file and hand the originals back to you. Alternatively send original documents via registered/recorded delivery to our office and we will send them back to you the same day of receiving them.
 

Will you accept photocopies of documents?

Yes, but only if these have been certified to confirm that they are true copies of the original document which the person signing the copy has seen. 

Documents can be certified by:

  • A solicitor
  • A general practitioner
  • A minister of religion
  • Your bank
  • A representative of your employer.

     

     

    If I have taken unpaid leave can I make up the missing pension contributions?

    Yes, you can pay the contributions you would have paid if you had not been on unpaid leave to restore your pension for the time you were on unpaid leave.  Please contact the University Pensions Office at pensionsonline@admin.cam.ac.uk, should you wish to do this.

 

When do I receive my annual statement?

Your annual benefit statement will show your pension as at 31 July in the year of issue and will be issued in the autumn of the relevant year.

 

I have opted out of the pension scheme if I change jobs within the University will I be automatically enrolled and do I need to fill in another opt out form?

Yes, if you change jobs this is classified as taking up a new employment and you will automatically be re-enrolled in the pension scheme by the University. If you wish to opt out you need to contact the Pension Office at pensionsonline@admin.cam.ac.uk.

 

What is the Life Time Allowance (LTA)?

The UK government places a limit on the total value of pension benefits you can receive from pension schemes based in the UK (excluding state pension benefits) in a tax efficient way.  If the value of your benefits exceeds the LTA then a tax charge is payable on the excess over the LTA.  The LTA for 2018/2019 is £1,030,000. 

 

Opting Out of the Scheme

How do I Opt Out of the pension scheme?

Under the provisions of the Pensions Act 2008 you are only able to opt out once you have received certain specified information about the scheme, including information on how to opt out.  This will be issued to you by the Pensions Office shortly after you have been paid for the first time.

Provided that you opt out within 90 days of commencing employment you will be treated as if you had never joined the scheme and any contributions you have paid will be refunded to you in the next payroll.

 

If I opt out can I re-join at a later date?

Yes, you can re-join at any time. If you wish to re-join the pension scheme you will need to send a signed letter to the Pensions Office.  This can be emailed but it must include your signature.

 

 

Leaving the Scheme

Am I able to withdraw from the scheme if I have been a member for more than 90 days?

Yes, but you will need to give a minimum of 28 days’ notice of your intention to opt out and your opt out will take effect from the first day of the month following the expiry of the notice period.  If you wish to opt out you will need to complete the opt out form which can be downloaded at

https://www.pensions.admin.cam.ac.uk/cps/just-joined/which-forms-should-i-complete.

 

Do I receive a refund with less than 2 years’ service?

If you have been a member of the scheme for less than 2 years’ when you leave employment or opt out of the scheme then you will receive a refund of your own contributions to the scheme less tax. 

If you have been a member of your employers salary sacrifice arrangement for pension contributions you will not receive a refund of any contributions paid under the salary sacrifice arrangement.  There is more information about salary sacrifice in the Salary Sacrifice factsheet at

https://www.pensions.admin.cam.ac.uk/cps/scheme-guides-factsheets

If you do not know if your employer operates a salary sacrifice arrangement or if you are in a salary sacrifice arrangement for pension contributions you should check with your employer.

 

What is the CPS2 form?

This is the option form which is sent to you when you leave the scheme with less than 2 years’ service. You will need to return the completed form to the Pensions Office so we can deal with your benefits

 

Why does the letter I have received from the Pensions Office on leaving the scheme say my refund is £0.00?

The trustee is only able to refund contributions which the member has paid personally. If you were a member of your employers salary sacrifice arrangement for pension contributions while you were a member of the scheme you would not have paid any contributions to the scheme as these would have been paid by your employer on your behalf.   There is more information about salary sacrifice in the Salary Sacrifice factsheet at

https://www.pensions.admin.cam.ac.uk/cps/scheme-guides-factsheets

If you have any queries about your employer’s salary sacrifice arrangement you should contact your employer.

 

I note that there is a deadline to return the CPS2. What if I miss the deadline?

If you do not contact us before the deadline the refund will automatically be processes and a cheque for the refund will be sent to you.

 

What are my options when leaving employment?

Please refer to the Leaving Service factsheet which is available at:

https://www.pensions.admin.cam.ac.uk/cps/scheme-guides-factsheets

 

What do I do when I leave employment?

The Pensions Office will be informed by your employer that you have left employment and will issue you with details of your leaving service benefits.  Please note that this may take up to 8 weeks from receipt of the notification from your employer.  If you are moving at the same time as leaving employment please advise the Pensions Office of your new address using the form at:

https://www.pensions.admin.cam.ac.uk/cps/update-my-details
 

Death Benefits

Does the Scheme pay any benefits if I die?

Yes, In the event of your death there will be benefits due to your dependents. Please see

https://www.pensions.admin.cam.ac.uk/cps/scheme-guides-factsheets

 

What is the Expression of Wish Form and where can I find it?

The Expression of Wish form allows you to nominate one or more people to be considered by the trustee to receive any lump sum payable by the scheme in the event of your death.  You should note that the trustee cannot be bound by the form as it has to take into account all relevant circumstances at the date of your death.

You can find the form at:

https://www.pensions.admin.cam.ac.uk/cps/just-joined/which-forms-should-i-complete.

 

Can I nominate my children on the form?

Yes.

 

Do I have to nominate my spouse/registered civil partner to receive a pension in the event of me death.

No, your legal spouse or registered civil partner will automatically receive a pension in the event of your death.

If you are not married but living with a partner then they may be eligible to receive a pension form the scheme in the event of your death and you can register them as a dependent by completing the Registration of Potential Dependent form at

https://www.pensions.admin.cam.ac.uk/cps/just-joined/which-forms-should-i-complete.

 

I am getting divorced and do not want my spouse/registered civil partner to receive any benefits in the event of my death.  How do I do this?

Until your marriage/civil partnership has been formally dissolved by the Court if you were to die any pension form the scheme would still be paid to your spouse/registered civil partner.

You could nominate someone else to receive any lump sum in the event of your death via Expression Of Wish Form. https://www.pensions.admin.cam.ac.uk/cps/update-my-details

 

The State Pension

How do I find out about my State Pension?

The University Pensions Office does not deal with state pension benefits and you can find out about these at:

www.gov.uk/state-pension

 

Maternity Leave

I am about to go on maternity leave what will happen to my pension?

While you are in respect of any maternity pay you will continue to earn pension as if you had been at work even if your pay is reduced as a result of your absence.  You will only pay contributions based on the pay you actually receive.

If you have any unpaid maternity leave on your return you will be given the option to restore this period of service by paying the contributions you would have paid had you not been on unpaid maternity leave.   However, the Pensions Office relies on HR to advise us you have returned from maternity leave and so if you do not hear from us you should contact us at pensionsonline@admin.cam.ac.uk

 

Ill-Health Benefits

I am on sick leave what will happen to my pension?

While you are in receipt of any pay you will continue to earn pension as if you had been at work even if your pay is reduced as a result of your absence.  You will only pay contributions based on the pay you actually receive.

If you have any unpaid sick leave on your return you will be given the option to restore this period of service by paying the contributions you would have paid had you not been on unpaid sick leave.   However, the Pensions Office relies on HR to advise us you have returned from sick leave and so if you do not hear from us you should contact us at:

pensionsonline@admin.cam.ac.uk.

 

My doctor has advised me to apply for early retirement on health grounds what do I need to do?

If you are an active member of the scheme you should contact your local HR team who will arrange for you to see Occupational Health who will advise you whether in their opinion you are likely to meet the criteria for early retirement on health grounds.  If they feel that you do then they will prepare a medical report to be considered by the trustee.

If the trustee approves your early retirement Occupational Health and your HR team will be informed so that a suitable retirement date can be agreed.

If you are a deferred member of the scheme you should write to the Pensions Office explaining that you wish to be considered for early retirement on health grounds.  We will then send you a medical consent form so that the trustee can approach your doctor(s) for medical reports.  Once the trustee has considered the reports you will be advised of the outcome.
 

Increasing Pension Benefits

Can I do anything to boost my pension on retirement?

You can pay Additional Voluntary Contributions to the CUADCPS.

There is more information about this in the Topping up your benefits factsheet which can be found at:

https://www.pensions.admin.cam.ac.uk/cps/scheme-guides-factsheets

You can down load the Additional Voluntary Contributions form from:

https://www.pensions.admin.cam.ac.uk/cps/just-joined/which-forms-should-i-complete

 

Retirement

How do I claim my Pension?

Information about how to claim your pension can be found at

https://www.pensions.admin.cam.ac.uk/cps/claim-your-pension

 

When is will my pension be paid?

Your pension will be paid on the 26th of each month unless this is a weekend or a Bank Holiday when it will be paid on the last working day before the 26th.

 

When do I receive my P60?

This will be sent to you by the University’s payroll department before the end of May.

 

How do you get notified of my new tax code from the HRMC?

 

Tax codes are sent to us electronically by HMRC and are automatically uploaded to our payrolls each month.
 

What if I retire and move to another country.  Can I still have my pension?

Yes, but if you do not have a bank account in the UK any bank charges incurred in paying your pension to an overseas bank account will be deducted from your monthly pension payment

 

Is the lump sum taxed?

Your retirement lump sum is paid tax free.  However, if you do not live in the UK, or are taxed outside of the UK you will need to check if you will be taxed on this payment.

 

Can I retire and continue to work for the University?

The rules of the CUACPS require you to leave employment in order to start receiving your pension.

 

How do I get booked onto the PPD Retirement seminars?

Details of the seminars and how to book can be found at the following website:

https://www.ppd.admin.cam.ac.uk/.

 

Requesting Information

How do I request a retirement estimate?

You should e-mail the Pensions Office at pensionsonline@admin.cam.ac.uk

 to request a statement.  Please include the date of your intended retirement in your email. If you are no longer contributing to the scheme then an estimate showing the current value of your deferred pension will be produced.
 

Transfers

Can I transfer benefits from another pension scheme?

You can transfer benefits into the CUADCPS and if you wish to investigate a transfer you should complete the Transfer in authority form which you can download from

https://www.pensions.admin.cam.ac.uk/cps/just-joined/which-forms-should-i-complete

Please send the completed form to the address on the form.

 

How do I transfer my benefits to my new pension scheme?

Ask the administrator of your new scheme to contact the CUACPS.  They should include your signed authority to provide them with information about your CUACPAS benefits.

 

Can I transfer my CUACPPS pension to an overseas pension scheme?

Possibly.  You will need to seek independent financial advice and the receiving scheme must be recognised by the tax authorities in the UK.  Please see:

https://www.gov.uk/guidance/check-the-recognised-overseas-pension-schemes-notification-list.