To follow-up on our previous correspondence on the issue of the options exercise for the Modified Pension Scheme and to provide you with as much useful information as possible, we have enclosed a 'rough guide' below to enable you to make a decision that is best for your situation.
The options exercise is only applicable to someone who has served as an employee on the RDS during all or part of the reference period 01 July 2000 – 05 April 2006. Anyone who has join the service after 05 April 2006 will not have the option to become a member of the modified pension scheme.
We would advise that every member who is eligible, to complete the personal details section and tick the 'YES' box to receive more details from your local FRS. By doing so the service will provide you with financial details should you wish to buy back service during the aforementioned period. This does not commit you to anything, but will provide you with additional financial information with which you will be able to make an informed decision.
If you are retired from the service or not currently a member of the 2006 pension scheme you do not have to complete any further boxes or other information, just return the form.
For those of you who are members of the 2006 pension scheme you will have the option of either transferring your 2006 pension scheme into the modified scheme or vice-versa. You therefore will need to tick either the first or second box depending on your preference. Details of the modified scheme can be found here.
We do not envisage that any of our members will fit into the third category of transferring their deferred 1992 scheme pension benefits into the modified scheme.
The fourth tick box relates to ex-employees who retired from the service due to poor health within the reference period.
If you need any further assistance on this matter, please do not hesitate to contact RFU HQ.
National General Secretary