FTRS effect of pay rise on pension abatement

theoldti

Lantern Swinger
Been on FTRS (ltd) since April 19 and just had a letter from the pension guys that my pension will be abated more after the recent pay rise. It works out that after my FTRS pay and reduced pension I get £0 increase. Because the pay rise came in September and backdated to April I actually owe the pension peeps money as they have overplayed me. Has anyone else had this issue?
 

vauxhall

Lantern Swinger
So, you joined in April 19 and your abatement was set using the pre-pay rise figure. Then the pay rise was announced and back dated to April. That would trigger the original calculation to be revisited I'm afraid.

I will check with HQ tomorrow to see if members have raise the issue with them.
 

theoldti

Lantern Swinger
Thanks guys. I have 2 issues about this:

1. I am new to FTRS but it looks to me that if I get a pay rise on my RN salary, that is cancelled out by a reduction in pension. This seems unfair.

2. The pay rise was announced in July and implemented in September yet it has taken 4 months from implementation to inform me that my pension payments are wrong. This is unacceptable.
 

vauxhall

Lantern Swinger
I can only comment on the first point, theoldti. Pay rises going forward should not generate a reassessment of the abatement. A promotion or entering into a new contract will.
 
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