If you are an Independent Financial Adviser acting on behalf of one of our members you may find this area helpful when requesting information about members of our Scheme. The Scheme is a final salary (defined benefit) scheme which offers members:
- A pension when they retire based on service in the Scheme and salary close to or at retirement;
- A cash sum as well as their pension which is normally tax-free;
- The opportunity to exchange some of their pension for extra cash, which is normally tax-free;
- A pension payable for life that increases in line with inflation up to a cap;
- Valuable benefits for their dependants and children if they die;
- Protection if ill-health forces members to give up work;
- Flexible tax effective options for topping up the main Scheme retirement benefits.
As a final salary scheme, membership is particularly valuable, as benefits will generally be based on:
- The length of time in the Scheme, and
- The member's salary when they leave or retire.
Members have the option to take the Cash Equivalent Transfer Value (CETV) of their benefits to another pension plan.
Members should contact Mercer from 17th January 2022 to obtain an illustrative or guaranteed transfer value.
Mercer can be contacted by post at:
ScottishPower/Manweb
Mercer Limited
Post Handling Centre
St James Tower
7 Charlotte Street
Manchester
M1 4DZ
By phone at:
Scottish Power - +44(0)330 808 1523
Manweb - +44(0)330 808 1525
In addition, Contact Mercer Admin can be accessed via a laptop, PC or mobile device via www.contact.mercer.com/green
Within IFA documents, please see the relevant scheme’s CETV policy document for the respective Trustee’s policy regarding issuance of guaranteed transfer value quotations. Please read this policy document before proceeding with any request for a guaranteed transfer value.
Please note that estimated transfer values can fluctuate month on month for different reasons, please also see the note on Fluctuations in Estimated Transfer Values also within IFA documents.
IFA DOCUMENTS