Pensioners

Pension payslips for SPS pensioners are posted on the Hartlink website each month and benefit payments made on the 15th of each month.

Child pensions are paid to the age of 18 years.  The Trustee may continue the payment to 21 years providing the child is in full time education.

When you retire and your benefits are in payment, a payslip will be posted on the Hartlink website each month telling you what you will be paid for that month.  The payment date each month is 15th although the payslip can be viewed on the Hartlink website before this date.

On your first visit to the Hartlink website you are required to register before you can access your details. This involves selecting a username and password and you will then be provided with a PIN. You can then use these details to access the site on subsequent visits.

Paper payslips are issued in January each year, when increases according to your SPS membership level are applied to pensions. P60s are issued to all pensioners at the end of each tax year also in paper format.  Both the January payslips and P60s and are also available on the members' website.

Child Pension

If you are receiving a Child’s Pension and are over the age of 18, the Trustee may continue payments at its discretion up to the age of 21, if you are in full time education. The Trustee will review your attendance with your education provider annually and your pension may be temporarily suspended while this review takes place.

Guaranteed Minimum Pension

Most members of the Fund who worked for Reuters in the UK between April 1978 and April 1997 will have been ‘contracted out’ from the State Earnings-Related Pension Scheme. This means that you and your employer paid a reduced amount of National Insurance contributions. In exchange, the Reuters Supplementary Pension Scheme is required to provide you with a ‘Guaranteed Minimum Pension’ (‘GMP’).

Any GMP will already be included in your pension in payment. When you reach GMP payment age (currently 60 for females, 65 for males) your GMP will increase differently to your regular scheme pension. GMP will increase annually at a rate determined by the government. Any increase for GMP earned between April 1978 and March 1988 is paid by the government and is added to your State Pension. The increase for GMP earned between April 1988 and April 1997 is payable from the Fund up to a maximum of 3% per annum. Any increase above 3% per annum, on your Post-1988 GMP is added to your State Pension.

Death benefits

Your SPS pension is guaranteed for 5 years from the commencement date.  As an example, should   you pass away 3 years after your retirement date a lump sum death benefit equal to the remaining 2 years pension instalments would become payable. If you have not already, then you should complete an Expression of Wish form informing the Trustee as to whom you wish this benefit to be paid. Please note that this is a non-legally binding document; whilst the Trustee will take your wishes into account, it also has to make its own informed decision based on all evidence available as the payment of any death lump sum is made at the entire discretion of the Trustee.

Eligible spouse, children and/or dependent pensions may also be payable.
 

Tax queries

All pensions are treated as earned income by the Her Majesty’s Revenue & Customs (HMRC) and   may be liable for tax.  In assessing how much tax you should pay (if any), HM Inspector of Taxes takes into account all taxable income you receive such as your benefits from Reuters Pension Fund, State Pension, other earnings, bank interest, etc. The tax office then advises Capita directly of the correct tax code that should be applied to your pension.

Any enquiries you have in respect of taxes should be directed to your tax office. Contact details are provided below:

HM Inspector of Taxes
Concept House
5 Young Street
Sheffield S1 4LA

Tax PAYE Reference: 673/AA11106

Overseas tax queries/nil tax codes
If you live abroad and do not wish to pay tax on your pension in the UK, then you need to apply to the Centre of Non-Residents (CNR) for a nil tax code. Details for the CNR below:

Contact point:

The Centre for Non-Residents
(CNR) Address
St John’s House
Merton Road
Bootle
Merseyside L69 9BB

Phone: 0845 070 0040 (UK)
+44 (0) 151 210 2222 (Overseas)