CPS - Frequently Asked Questions
On this page you can find the answers to frequently asked questions.
The questions have been grouped into the following topics:
Definitions, Annual Statements, Contributions, Absence, Updating your details, Leaving the scheme, Death benefits, Retirement, Pensions in payment, Transfers, Financial Advice
Please click on the questions below to expand and view the answers:
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.
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.
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 here.
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 factsheets which are available here.
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. More information is available from the CRB guide and scheme factsheets which are available here.
SEI are an investment company who provide the CUADCPS.
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.
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 (EEA) 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 here.
From 06 April 2024 the UK Government has introduced two new allowances which place limits on the total amount of certain pension lump sums that members can receive tax free. These allowances are the lump sum allowance (set at £268,275) and the lump sum and death benefit allowance (set at £1,073,100).
There are transitional arrangements for also factoring in benefits received prior to 06 April 2024 when checking that a member has sufficient allowance remaining to receive (or for their beneficiaries to receive if applicable) a tax free lump sum from this scheme.
You can see the questions that are asked for assessing whether there is enough allowance remaining to pay a tax free pension commencement lump sum here.
There is also information at: https://www.gov.uk/guidance/find-out-the-rules-around-individual-lump-sum-allowances
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.
To be eligible to receive an annual benefit statement you will need to have been in the scheme for at least 1 year as at 31 July in the relevant year and you will need to still be contributing to the scheme.
Please see the latest Summary Funding Statement available here.
Your contributions are set under the rules of the scheme and it is not possible to reduce these unless you are paying AVCs in which case you could cease, or possibly reduce, your AVCs.
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 Pensions Office should you wish to do this.
During the first 26 weeks of maternity leave you will continue to earn pension as if you had been at work even if your pay is reduced or you are unpaid as a result of your absence. You will only pay contributions based on the pay you actually receive.
You will continue to earn pension as if you had been at work for any further period during which you are in receipt of maternity pay, 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 period during the second 26 weeks of maternity leave 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 our office.
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 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 our office.
You should send the original documents evidencing the change to the Pensions Office.
Please complete and return the Change of Bank Details form available here.
Alternatively, please provide the new bank details in a signed letter.
The form or letter will need to be physically signed. A scan or a photograph of the document can then be returned to us by email or the document can be posted to our office.
If you are a pensioner or have left the scheme without an immediate entitlement to a pension please complete the change of address form available here.
Alternatively, please send the details of your new address in a signed letter.
The form or letter will need to be physically signed. A scan or a photograph of the document can then be returned to us by email or the document can be posted to our office.
If you are still contributing to the scheme please follow the processes required by your employer to update your address with them.
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.
Yes, you can rejoin 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.
If you change jobs this is classified as taking up a new employment and you will automatically be re-enrolled into a pension scheme by your employer if applicable following the same rules that would apply to a new employee. If re-enrolled you will receive a welcome letter which will include information on what to do if you do not wish to remain in the scheme.
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 is available here.
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 employer's salary sacrifice arrangement for pension contributions you will not receive a refund of any contributions paid under the salary sacrifice arrangement.
If you do not know if your employer operates a salary sacrifice arrangement or whether you are in a salary sacrifice arrangement for pension contributions you should check with your employer.
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.
The trustee is only able to refund contributions which the member has paid personally. If you were a member of your employer's 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.
If you have any queries about your employer’s salary sacrifice arrangement you should contact your employer.
If the CPS2 form is not returned by the deadline you may lose the right to transfer your benefits to another pension scheme resulting in your only option being a refund of your personal contributions.
If you were part of your employer's salary sacrifice arrangement this could result in your only option being a refund of £0.00 (see the previous question).
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 available here.
If you joined the scheme on 01/01/2013 or later you can find details of your options here.
If you joined the scheme before 01/01/2013 you can find details of your options here.