Yes. If you receive your statement by post we have shown an estimated McCloud addition on your statement and included this amount in your annual pension value. The majority of protected members have a provisional McCloud addition of £0. This is because their career average pension is more than the pension they would have built up in the final salary scheme for the remedy period. The final value of any McCloud addition will not be known until the pension is taken; it may be higher, lower or may not apply at retirement. If this section says ‘Unable to Calculate’ it means that we are still waiting for information from your employer to calculate a provisional McCloud addition. If this section says ‘Not Applicable’ then you are not protected by the McCloud Remedy.
If you receive your statement via My NILGOSC Pension Online, an estimated McCloud addition is included in your annual pension value.
For further information see The McCloud Remedy (deferred members) – NILGOSC