News
Were you automatically enrolled on 30 November 2016?
If you meet the Automatic Enrolment eligibility criteria as at 30 November 2016, you will start to receive your Zurich Welcome Packs shortly.
The Zurich Welcome Packs and passwords have begun to be posted so you will receive both documents very soon. If you have only received your password and no Welcome Pack or vice versa, please contact Zurich on 0800 500 3144 to ask for this to be re-posted to you.
If you have any Automatic Enrolment questions, you can read our FAQs or call the Automatic Enrolment helpline on 0303 334 7080.
Do you need help understanding pensions?
For the past four years the Trustees have been creating educational material to help you understand various aspects of your journey to retirement. We have just launched this year’s four new modules, each designed to help you digest your pension in bite-sized chunks.
This year’s modules comes with a simple set of actions for you to follow so you can be sure that you’re effectively saving for your future. Remember, even if you follow just one step, it could make a big difference to you and your future.
And why not download the Bolt to the Finish game on your mobile phone and test your coin collecting skills against the clock?
Well, what are you waiting for? It’s time to get saving!
To view all the material please click here.
Were you automatically enrolled on 31 October 2016?
If you meet the Automatic Enrolment eligibility criteria as at 31 October 2016, you will start to receive your Zurich Welcome Packs shortly.
The Zurich Welcome Packs and passwords have begun to be posted so you will receive both documents very soon. If you have only received your password and no Welcome Pack or vice versa, please contact Zurich on 0800 500 3144 to ask for this to be re-posted to you.
If you have any Automatic Enrolment questions, you can read our FAQs or call the Automatic Enrolment helpline on 0303 334 7080.
Were you automatically enrolled on 30 September 2016?
If you meet the Automatic Enrolment eligibility criteria as at 30 September 2016, you will start to receive your Zurich Welcome Packs shortly.
The Zurich Welcome Packs and passwords have begun to be posted so you will receive both documents very soon. If you have only received your password and no Welcome Pack or vice versa, please contact Zurich on 0800 500 3144 to ask for this to be re-posted to you.
If you have any Automatic Enrolment questions, you can read our FAQs or call the Automatic Enrolment helpline on 0303 334 7080.
KPS-FS Valuation 2016 Update
The KPS-FS 2016 Valuation Update is now available for viewing online.
The 2016 Valuation Update summarises the results of the latest valuation on the KPS-FS. This communication will be posted to all KPS-FS members who have requested a hardcopy shortly.
A copy of the 2016 Valuation Update along with the full Actuarial Valuation Report has also been uploaded to the website. These documents can be viewed by clicking here.
If there are any queries relating to the communication or the valuation please do not hesitate to contact us.
Will you be automatically enrolled on 31 August 2016?
If you meet the Automatic Enrolment eligibility criteria as at 31 August 2016, you will start to receive your Zurich Welcome Packs in the next few weeks.
The Zurich Welcome Packs and passwords have begun to be posted so you will receive both documents very soon. If you have only received your password and no Welcome Pack or vice versa, please contact Zurich on 0800 500 3144 to ask for this to be re-posted to you.
If you have any Automatic Enrolment questions, you can read our FAQs or call the Automatic Enrolment helpline on 08456 807060.
Will you be automatically enrolled on 31 July 2016?
If you meet the Automatic Enrolment eligibility criteria as at 31 July 2016, you will start to receive your Zurich Welcome Packs in the next few weeks.
The Zurich Welcome Packs and passwords have begun to be posted so you will receive both documents very soon. If you have only received your password and no Welcome Pack or vice versa, please contact Zurich on 0800 500 3144 to ask for this to be re-posted to you.
If you have any Automatic Enrolment questions, you can read our FAQs or call the Automatic Enrolment helpline on 08456 807060.
Annual Stewardship Report 2015
The Trustees give consideration to Environmental, Social and Governance (ESG) factors and the 2015 Stewardship report from SSgA provides an overview of how one of the Scheme’s investment managers integrated ESG factors in to their portfolio management.
To view the Stewardship Report from State Street Global Advisors please click here.
Were you automatically enrolled on 30 June 2016?
If you meet the Automatic Enrolment eligibility criteria as at 30 June 2016, you will start to receive your Zurich Welcome Packs shortly.
The Zurich Welcome Packs and passwords have begun to be posted so you will receive both documents very soon. If you have only received your password and no Welcome Pack or vice versa, please contact Zurich on 0800 500 3144 to ask for this to be re-posted to you.
If you have any Automatic Enrolment questions, you can read our FAQs or call the Automatic Enrolment helpline on 08456 807060.
Were you automatically enrolled on 31 May 2016?
If you meet the Automatic Enrolment eligibility criteria as at 31 May 2016, you will start to receive your Zurich Welcome Packs shortly.
The Zurich Welcome Packs and passwords have begun to be posted so you will receive both documents very soon. If you have only received your password and no Welcome Pack or vice versa, please contact Zurich on 0800 500 3144 to ask for this to be re-posted to you.
If you have any Automatic Enrolment questions, you can read our FAQs or call the Automatic Enrolment helpline on 08456 807060.
Were you Automatically enrolled on 30 April 2016?
If you meet the Automatic Enrolment eligibility criteria as at 30 April 2016, you will start to receive your Zurich Welcome Packs shortly.
The Zurich Welcome Packs and passwords have begun to be posted so you will receive both documents very soon. If you have only received your password and no Welcome Pack or vice versa, please contact Zurich on 0800 500 3144 to ask for this to be re-posted to you.
If you have any Automatic Enrolment questions, you can read our FAQs or call the Automatic Enrolment helpline on 08456 807060.
KPS-FS Pensioner Communication
In accordance with legislation and the KPS Trust Deed & Rules, KPS-FS pensions in payment were increased on 1 April 2016 in line with the Retail Prices Index (RPI).
Pension payments will be made on 6 April 2016 to UK bank accounts, and a few days later if you are receiving your pension payment into an overseas bank account.
The 2016 Combined Pension Increase, April payslips and P60s communication will be with all members by the end of next week. We apologise for the delay however should you have any queries please do not hesitate to contact us.
Were you automatically (re-)enrolled on 31 March 2016?
If you met the Automatic Enrolment eligibility criteria as at 31 March 2016, you will start to receive your Zurich Welcome Packs shortly. Also, if you had been automatically enrolled but previously chose to opt out, then you may also have been automatically re-enrolled back into the Scheme.
The Zurich Welcome Packs and passwords have begun to be posted so you will receive both documents very soon. If you have only received your password and no Welcome Pack or vice versa, please contact Zurich on 0800 500 3144 to ask for this to be re-posted to you.
If you have any Automatic Enrolment questions, you can read our FAQs or call the Automatic Enrolment helpline on 08456 807060.
Were you automatically enrolled on 29 February 2016?
If you meet the Automatic Enrolment eligibility criteria as at 29 February 2016, you will start to receive your Zurich Welcome Packs shortly.
The Zurich Welcome Packs and passwords have begun to be posted so you will receive both documents very soon. If you have only received your password and no Welcome Pack or vice versa, please contact Zurich on 0800 500 3144 to ask for this to be re-posted to you.
If you have any Automatic Enrolment questions, you can read our FAQs or call the Automatic Enrolment helpline on 08456 807060.
April 2016 Pension Tax Changes
The Summer 2015 Budget introduced further changes to the rules governing taxation and pension savings. These changes, along with changes already announced in the 2014 Budget, will affect people in different ways. We are highlighting these changes to you below and it is important that you read this carefully to understand how you might be affected.
The last two Budgets have introduced two significant changes to the taxation of pensions around the Lifetime Allowance and the Annual Allowance.
Lifetime Allowance
In his 2014 Budget the Chancellor announced that the Lifetime Allowance would reduce with effect from 6 April 2016 from its current value of £1.25 million to £1 million.
As a result of this change, HM Revenue & Customs (HMRC) will be introducing two new forms of protection to individuals whose pension savings have already reached £1 million by 5 April 2016. These forms of protection are called Fixed Protection 2016 and Individual Protection 2016 (simply referred to as “FP2016” and “IP2016”).
What should you do next?
You should review the total measure provided above and add any other pension savings you have. Once you have your total figure you should then see whether you should be considering applying for a form of HMRC protection.
Annual Allowance
The Summer 2015 Budget announcement confirmed a number of changes to the Annual Allowance, specifically aimed at “higher earners”, by reducing the amount of tax relief they can receive on their pension contributions. These changes will come into effect from 6 April 2016.
The Annual Allowance will be reduced from the current £40,000 p.a. if both of the following criteria apply:
- Your “threshold” income is over £110,000; and
- Your “adjusted” income is over £150,000.
In simple terms your “threshold” income is your total gross income without adding back any pension contributions you and the Company have made and your “adjusted” income is your total gross income including any pension contributions made.
Where your adjusted income falls between £150,000 and £210,000 the personal allowance is calculated on a tapering basis to fall between £40,000 and £10,000.
What should you do next?
If you are an active member of the Scheme and your Annual Allowance will reduce, you must advise Kingfisher Group Pensions Team as soon as possible so that we can monitor your pension input against your specific Annual Allowance.
More information?
We have produced a Q&A document for our members to assist in explaining these changes and we have updated the Annual Allowance and Lifetime Allowance webpages.. To view the Q&A please click here. We would also recommend visiting HMRC’s website for further assistance and clarification.
Were you automatically enrolled on 31 January 2016?
If you meet the Automatic Enrolment eligibility criteria as at 31 January 2016, you will start to receive your Zurich Welcome Packs shortly.
The Zurich Welcome Packs and passwords have begun to be posted so you will receive both documents very soon. If you have only received your password and no Welcome Pack or vice versa, please contact Zurich on 0800 500 3144 to ask for this to be re-posted to you.
If you have any Automatic Enrolment questions, you can read our FAQs or call the Automatic Enrolment helpline on 08456 807060.
