We are proposing changes to pensions
We are proposing switching your pension from HCAPS to the Civil Service Pension Scheme.
If the proposed changes go ahead, you would switch to the Civil Service Pension Scheme (and start building up Civil Service Pension Scheme benefits) from 1 April 2024.
Why the Civil Service Pension Scheme?
We are proposing switching to the Civil Service Pension Scheme because it is specifically designed for the civil service and organisations that support central government – like the Regulator of Social Housing.
Other regulators also use the Civil Service Pension Scheme. It is seen as a benchmark for public sector bodies.
The scheme offers members:
- a secure, inflation-proof pension for life
- the option of a tax-free lump sum on retirement
- life assurance cover and other ill health and injury benefits
- benefits for loved ones and dependents
What do you think?
This switch to the Civil Service Pension Scheme is still a proposal, not a final decision. We want to know what you think about the proposal, and will use what you tell us to inform our final decision.
Once we have considered all the feedback, we will decide whether or not to go ahead with the proposed changes and let you know. That decision will be final.