Frequently Asked Questions
Here are a number of Frequently Asked Questions about the current member options exercise. If you can’t find the answer you’re looking for, call us on 0118 313 0870 or email [email protected]
Coronavirus (COVID-19) update - NEW
Are my benefits from the Scheme secure?
Yes. Your benefits are calculated based on your salary and service, and are not affected by falls (or rallies) in the stock market. Our investment strategy is designed to limit the impact of volatility in markets, for example by “hedging” our exposure to inflation and interest rate movements.
How is XPS responding to the situation?
XPS has a business continuity plan which was tested before the lockdown and this is now in place. This allows XPS to act on a business as usual basis. They have a priority list which ensures that the most urgent matters are dealt with first.
Any updates relating to the Coronavirus, the Scheme and XPS’s services will be on this website.
Is there anything I can do to help myself?
Yes. Please provide an email address to the administration team. This will allow the Trustees and the administration team to contact you electronically.
I’m due to retire soon, will I be able to do so?
Yes. XPS will send you details of your benefit options as you approach your normal retirement date.
Why is my case taking so long?
At the moment XPS is focusing on critical areas of member support including deaths in services, retirements and of course, paying pensions. XPS will be processing other transactions and cases as quickly as we can. We’re sorry for any inconvenience or frustration the delay is causing you, but we hope you understand.
How will you let us know if XPS’s or the Scheme’s situation changes?
This website should be your first port of call for information.
Will my pension continue to be paid?
Yes – this is our number one priority and we have ensured that there is a greater reserve of cash available in the unlikely event that there delays in making disinvestments.
Staying alert for pension scams
Where can I found out more about pension scams?
We've put together some information to help you know what to look out for when you're approached by a potential scammer and what to do if you think you have been targeted, just click here.