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Members with fixed protection (2012, 2014 and 2016)

Members who hold Fixed Protection will be aware that pension growth in defined benefit schemes cannot exceed CPI growth during a tax year and retain Fixed Protection.

Members holding valid Fixed Protection certificates will need to consider opting out by April 2016. This is because the CPI figure against which growth is to be tested in respect of Benefit Accrual during 2016/17 is likely to be 0%.

Individuals wishing to opt out should note that an election to opt out is effective from the next available pay date. Notice is required and members should consider what action they may need to take now.

Find out more on reduction in LTA limit, testing for Benefit Accrual and the Opt Out process:

Please note that 'in service' benefits payable from the scheme in respect of ill health retirement and death in service are altered following opting out and members who opt out need to review their financial position.

Find out more on the life assurance afforded through scheme membership