Remedial Pension Saving Statement (RPSS) and Annual Allowance Update

We are aware that members affected by the Transitional Remedy who are at risk of breaching the Annual Allowance limit have now started to receive their Remedial Pension Saving Statements (RPSS) from the Teachers' Pension Scheme (TPS). 

These statements cover the full remedy period going back to the 2015/16 tax year.

The distribution of these statements is staggered and will be ongoing into 2025, so don’t worry if you have not received yours yet, you will have three months from the date of issue to complete this process.  

HMRC has created a dedicated ‘Calculate your public service pension adjustment’ service for affected members to calculate any tax owed or due, and you can find this service here.

The web page above will give instructions in order to follow the process through, but be aware that you will need the data from your RPSS to use this service and you may also be asked for historical earnings data. 

You can sign in to, or set up an online personal tax account with HMRC, which will show five years' worth of data – the landing page for that is here.

If you require any other data, you can request this from psprinforequests@hmrc.gov.uk with the subject line 'Request for Information - [YOUR NAME]'. This is also a dedicated service for this particular process. 

If, after completing the process, you find that you do have a tax charge, there is an option for the Teachers' Pension Scheme to pay this on your behalf.  In return, a corresponding adjustment will be made to your pension.  This is called ‘Scheme Pays’.   

A flow chart regarding Scheme Pays can be found here.

Any new Scheme Pays elections, or amendments required for existing Scheme Pays agreements already in place, should now be made directly through the ‘HMRC Calculate your public sector pension adjustment’ service. 

Members are reminded that as a trade union, and strictly in accordance with the Finance Act 2004, ASCL cannot provide any financial advice on taxation issues. Instead, members are advised to contact Quilter Financial Advisers, our ASCL Premier Partner for independent financial advice.