McCloud Support – Contingent Decisions
A decision you made based on the circumstances at the time, but would have made differently if you’d had the options available from the McCloud Remedy is a Contingent Decision – and you can now change that decision
Who does this apply to?
Any member of a public sector Pension Scheme on 1 April 2012 and 1 April 2015 who made a decision based on the circumstances before the McCloud Remedy was known – that you could stay in your legacy scheme until 31 March 2022 OR you could join the new CARE scheme from 1 April 2015.
We are waiting for details from some of the schemes on the process they need you to follow to change a decision.
We are currently able to support people who opted out of their Pension Scheme because of the changes introduced from 2015.
What will I get?
We will help you to assess and understand whether changing your decision would be the right course of action for you.
If you chose to leave your employer’s Pension Scheme and you’d like to opt back from 1 April 2015, you will have to pay the contributions for that period and we can estimate that cost.
We can also help you understand other consequences such as any Annual Allowance tax issues and whether you have received extra pay from your employer instead of the contributions they’d have made to the scheme. This needs to be ‘unravelled’ and you may need to repay those amounts.
What's not covered?
We don’t give financial advice, so cannot advise which option to take.
Additional scenarios may not be covered and would be treated as an extra piece of work (and extra charge).
We won’t liaise directly with your Pension Scheme(s) or other third parties but will support you if you need to check or otherwise contact the scheme for additional information.
Who is my Pensions Consultant?
We have a small team of pensions experts – Laura or Gilly will be there to help you.
How much does it cost?
Our charge for this service is around £1,200 + VAT
We’ll discuss the level of complexity in your case, agree the cost and we’ll email you the invoice after your meeting.
Do I have to remember everything from my meeting?
No, we’ll send you your report and summary notes.
