McCloud Remedy and Annual Benefit Statements

Cumbria Pension Fund, in line with the flexibility allowed under current regulations, has exercised a discretion to delay including McCloud remedy (underpin) calculations for a small number of scheme members in their 2024/25 Annual Benefit Statement (ABS).

All eligible scheme members will still receive an ABS which can be accessed through Pension Point. Your ABS will include details as to whether you are eligible for the McCloud remedy and, if so, it will note if your ABS includes these calculations or not. Where the remedy is not included, this has been deferred until the 2025/26 ABS scheduled to be produced by 31 August 2026.

This does not affect your pension entitlement and, when you retire, any remedy to which you are entitled will be included within your pension calculations.

Further details on the McCloud remedy can be found on the LPPA website.