Member benefits

Cash commutation rates are the amount that you would receive for every £1 of your annual pension that you give up. Therefore the table below shows what these are.

If you have any queries please do not hesitate to contact Gwynne Jarvis, Company Secretary of YMCA Pension Plan Trustee Limited at gwynnejarvis@pensionsymca.org.uk.

Pension scams

In response to a rise in pension scams, the government has introduced legislation giving trustees the power to restrict transfer rights which are intended to combat pension scams. The legislation introduces two conditions under which every transfer must be assessed against, and a transfer can only proceed if one of the two conditions is met.

In the case of most transfers out of the scheme, the trustees are required to gather further information about your transfer in order to undertake the additional checks that are required under the new regulations. To obtain the information needed for these additional checks, the trustees will require you to have a scam protection call with the XPS Scam Protection Team, during which you will be asked a number of questions about your transfer. The call should last around 20 to 30 minutes.

The new transfer regulations set out a number of scam warning flags. If any of these flags are identified through the additional checks undertaken by the Scam protection Team on behalf of the trustees, this may result in you losing your right to transfer or you may be required to have a pensions safeguarding call with MoneyHelper before the transfer can proceed. After your call with the XPS Scam Protection Team, the trustees will advise you if any scam warning flags are identified, and what action needs to be taken.

The regulations, and the actions undertaken on behalf of the trustees, are designed to help protect you from potentially falling victim to a pension scammer.

For members considering a transfer, please visit The Pensions Regulators website prior to making a final decision.’

External links

Compendia Website

(for member access only) – this site can be used to update your contact details, and obtain retirement quotations and details of your preserved benefits.

Please click on this link for the Compendia Website

Y’s Retired of the UK

When you approach the end of your YMCA service and have enjoyed the friendships that you have made, your YMCA connection does not need to end. Consider joining the Y’s Retired of the UK which was founded back in 1984/85 with the notion that friendships and a sense of common purpose shared, while in YMCA service, need not and should not be lost with retirement.

Curious? – Full details can be found on our website at www.yretired.co.uk.

The Y’s Retired Secretary, Vic Hills, would be delighted to hear from you. You can contact Vic.

 

If members have any queries regarding benefits, please either refer to the Trust Deed and Rules of the Plan or contact Balbir Sandhu.