Am I entitled to a Pensions payment?
Those staff members who were a Term Time Only staff member for the qualifying period (1 January 2015 – 31 March 2020) and were also in the Final Salary Pension Scheme (FSPS) between 1 April 2000 and 31 March 2014 are entitled to a £50 pension compensation payment for each full year they were in the scheme.
In practice one full year equates to 01/04/20xx - 31/03/20xx.
Example: if someone was in the scheme from 01/06/2011 - 31/03/2014 then they are only entitled to £100 (i.e. two x £50 payments) because working backwards from 31/03/2014 they were in the FSPS for 34 months (2 years 10 months) therefore that is only two full years and not three full years.
The FSPS closed on 31 March 2014 and for those staff members who have been in the Career Average Earnings pension scheme since it opened on 1st April 2014 this is not relevant for the purposes of TTO backpay and pension payments as this is not in the scope of the agreement with the Unions.
Lambeth has had to check the details of pension entitlements.
Lambeth has had difficulty verifying the start dates for people in the Final Salary Pension Scheme especially those schools which have left Lambeth Payroll and/or become an Academy between 2000 and 2014. If you are entitled to a pension compensation payment but it did not state so on your personal offer letter, then your COT3 will reflect the correct pension entitlement.
For those who have signed off on their COT3 but this did not include their pension compensation payment then once all other staff have had their COT3s sent out Lambeth will send out letters directly to the staff affected and make their pension payment. Lambeth apologises for this oversight.