Change of Admin Services FAQs

Please see below some questions and answers relating to the change of administration services to Punter Southall Administration Limited ('PSAL').

1 - Why are the Trustees making this change?

The Trustees of the Plan have been reviewing the administration service to ensure that members continue to receive a high quality service.

As a result it has been decided by the Trustees to transfer the administration service currently carried out by the in-house team to an outsourced provider, PS Adminstration  Limited (PSAL) with effect from 1 September 2016.

PSAL is a leading provider of pension administration services, and were selected following a long and rigorous selection process.  The Trustees are confident that PSAL will provide you with a high quality service through a dedicated team and that you will benefit from the combination of its investment in innovative technology and experience.  The Trustees will continue to monitor the administration service and track PSAL’s performance over time. 

PSAL have set up a new office in Chelmsford and by doing so have been able to retain the majority of the current in-house team, so the knowledge and detailed understanding of your pension scheme and its history will be retained, as well as having new team members.  The Trustees believe this is important in ensuring a smooth transition and the continuation of quality services for members. 

2 - What will happen to my benefits and the contributions that I have paid into the Plan?

There will be no change to your benefits and if you are an active member, you will continue to accrue benefits and receive annual benefit statements as before.

3 - Does this affect when I can retire?

No, your Normal Retirement Age (NRA) under the Plan will remain the same.

4 - I am planning to retire early. How does this change affect me?

This change does not impact on any of the benefits that you have or will have built up in the Plan.

5 - I am due to retire within the next year. How will I be affected?

You will be unaffected by this change and we will continue to write to all of our members approximately six months prior to your NRA to advise you of your benefits.

6 - I am due to retire within the next year. How will I be affected?

You will be unaffected by this change and we will continue to write to all of our members approximately six months prior to your NRA to advise you of your benefits.

7 - I am already receiving a pension from you. How will I be affected?

You will not be affected by this change and you will continue to receive payslips in the same way and frequency as you currently do.

You should note however that although the tax reference number will remain as 120/C4334, the tax office address will change to:

HM Revenue & Customs
Pay as You Earn
PO Box 1970
Liverpool
L75 1WX

This will have no impact on the amount of pension you are receiving or tax that you are paying.

8 - How do I get more information on my Compass Group Pension Plan benefits?

Before 1st September:

Compass Group Pensions Department
5th Floor Halford House
2 Coval Lane
Chelmsford
Essex   CM1 1TD

Telephone: 01245 295 550

Email : pensions@compass-group.co.uk


After 1st September:

PS Administration Limited (PSAL)
Priory Place
New London Road
Chelmsford
Essex   CM2 0PP

Telephone: 01245 673 502

Email : compassadminteam@puntersouthall.com