Frequently Asked Questions about pensions
Q. What are AVCs?
A. AVCs are Additional Voluntary Contributions. By paying Additional Voluntary Contributions you can enhance your retirement pension. Please see the 'Making Additional Payment' page for more details on AVCs and the options available.
Q. Can I have a refund of contributions?
A. You can only have a refund of contributions if you have been a member of a pension scheme for less than two years.
Q. If I leave the pension fund can I come back at a later date?
A. If you have opted out, you can re-join Lothian Pension Fund or Scottish Teahers Pension Scheme at any time. To do this please email payroll@napier.ac.uk including the phrase "I confirm I personally submitted this notice to join a workplace pension scheme"
Q. What should I do if I wish to transfer any other pensions to the University scheme?
A. You should contact the relevant Pension scheme provider who will ask you to complete a form giving some information about the scheme(s) you wish to transfer. Any paperwork you have relating to this scheme would be helpful. They will contact the company or employers given on the transfer form. Once a transfer quote has been obtained this will be sent to you. You should then seek advice from an Independent Financial Advisor to discuss if this if a valuable offer. If you wish the transfer to go ahead you should contact the Administrators of the scheme who will finalise the offer. Once the transfer is complete you will receive written confirmation.
Lothian Pension Fund members - Transferring benefits information can be found here
Scottish Teachers Pension Scheme members - Transferring benefits information can be found here
Q. Do I receive tax relief on my contributions to the Local Government Pension Scheme?
A. The scheme is fully approved by the Inland Revenue, which means that you do receive tax relief on your contributions. To achieve this, your contributions are deducted from your salary before you pay tax.
Q. What should I do about my pension if I leave the University?
A. The University will inform the Administrators of the scheme that you have left the University. The Administrators of the scheme will send details of the options available to you.
Q. What is the PAYE reference number?
A. Our PAYE reference number is 961/7027438