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Welcome to our 'Pension savings' information hub.

Here you'll find all the information and resources you need to help you understand what to do if your pension savings in the EAPF have exceeded the standard annual allowance (AA) of £40,000.

In most cases, there won’t be a need for you to take any action. However, sometimes there are other factors involved that could mean you may have to pay a tax charge. As neither Capita nor the EAPF are able to give you financial advice, we’ve provided lots of helpful information.

Pension savings webinar

To help our members feel clear about the actions they need to take after receiving their pension savings statement (PSS), we held Pension Savings webinars in September and October 2021.

We talked through what your statement means and also answered questions from our attendees.

You can watch them here if you couldn't make it.

Watch our 'PSS - What to expect video

Watch our 'PSS - So what now?' video

Useful resources

Here we've provided our useful pensions savings resources and factsheets. Whether you need to understand your pension savings statement, understand tax allowances or even see how to apply for the Scheme Pays option, our resources can help you.

Download our Pension Savings Statement Explained factsheet

Read our Annual allowance – Scheme pays questions and answers factsheet

Read our Tax controls on pension savings factsheet

Download our Scheme Pays flowchart

HMRC annual allowance calculator

To calculate how much unused carry forward you have and how this might affect your excess pension savings, you need to use the 'HMRC annual allowance calculator'.

Visit the HMRC website to use the annual allowance calculator.

Forms

Mandatory Scheme Pays Election

If your annual allowance charge is £2,000 or more and it relates to your EAPF pension savings over £40,000, you can ask EAPF to pay the charge on your behalf but they'll reduce your retirement pension in return for paying your tax.

Download the Mandatory Scheme Pays election form

Voluntary Scheme Pays Election

If your tax charge is less than £2,000 or you have a tapered annual allowance and your pension savings exceed your tapered amount, you can ask EAPF to pay your tax charge on your behalf in return for a reduction in your retirement pension. The EAPF doesn’t have to agree to your request and can refuse to pay your tax.

Download the Voluntary Scheme Pays election form

Scheme Pays request

If you have to pay an annual allowance tax charge to pay and would like to know how your pension would be affected if the EAPF paid the charge on your behalf, please download this form.

Download the Scheme Pays request form

Annual allowance scheme pays

How much will you pay image
If you exceed the annual allowance, you can ask the Fund to pay some or all of your annual allowance tax charge.
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