Webinar: Pensions and McCloud - Changes from October that will impact University Staff
Many of your employees using any of the government/statutory pension schemes will have changes to their pensions on account of the ‘McCloud Remedy’ and for a large proportion they will need to make decisions themselves.
The relevant schemes are Teachers’ Pension Scheme, Scottish Teachers’ Pension Scheme, Local Government Pension Scheme/Scotland (E&W and Scotland) and the NHS Pension Scheme (E&W and Scotland). USS members are not impacted by this.
Choose when to join us
Tuesday 26 September 2023 at 10am
Wednesday 4 October 2023 at 3.30pm
If these times don't work for you, please get in touch to find out more.
What does this mean for employees and their benefits?
The second phase of the McCloud Remedy comes into force on 1 October 2023. Whilst the schemes will be communicating with their members, it is essential that employers understand what this means for people and understand the differences for the multiple cohorts of employees within the university – for example, why don’t the LGPS members need to make a decision? Is there a risk for the employers if people make the ‘wrong’ decision? What and when should you communicate to your employees to help the process?
Pensions are a very significant part of your employees’ total rewards package. You pay a lot in employer contributions for this benefit so you want to ensure that this benefit is valued by your employees and can be used effectively in retaining staff and be aware how McCloud, especially when combined with ‘pensions tax’ for higher earners, might impact your workforce planning.
How we can help you
At Isio, we are passionate about increasing the understanding of pensions and employee engagement and have been supporting people across the public service pension schemes with all aspects of the McCloud Remedy.
Please join our free 1 hour webinar for universities to hear more about what this means for employees and their pension benefits and when and what decisions they will need to make.
You can register for the webinar on Tuesday 26 September 2023 at 10am or Wednesday 4 October 2023 at 3.30pm.
We look forward to seeing you at the webinar. If neither of these events works for you, and you want to know more, please follow the link and choose the option to ask for more information or contact your usual Isio contact directly.