This item was published during the term of a previous administration that ended in April 2007
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Final pay-out for transport pensioners
06/08/2004
Thousands of pensioners are to receive a final lump sum
payment from the Scottish Transport Group's (STG) pension
fund.
More than 12,000 people have so far come forward to
claim payments from a £126 million pension fund secured by
Scottish Ministers in 2002.
However, there are still around 600 people who have not
yet claimed their entitlement. All former members have
until October 31 to contact the Executive and identify
themselves as eligible.
A third and final round of payments due to members will
be made by the end of the year.
Transport Minister Nicol Stephen said:
"I am very keen to ensure all STG's members claim their
share of the £126 million fund they are entitled to.
"The £122 million paid so far has benefited more than
12,000 members - making a significant difference to the
lives of thousands of pensioners across Scotland.
"I would encourage anyone who thinks they may be
eligible, but have not yet received payments, to come
forward by the closing date of October 31.
"Those who come forward and are eligible will receive
their full entitlement to cover the first and second rounds
within a few weeks. Thereafter, all those eligible will
receive a final lump sum payment from the £4 million
remaining funds."
Surplus from the STG was due to be returned to the UK
Exchequer under the rules of the Scottish schemes.
Scottish Ministers secured agreement with the Treasury
to distribute #126m of the surplus to pensioners. Most of
the £126 million was paid out in the first round of
payments in 2002 with the second in May 2003.
The level of the final payments depends on how many
people come forward before the closing date but seems
likely to average about £300.
Individuals who believe that the STG Pension Schemes
might not hold details of their current address are invited
to write to the SPPA at the following address:
Scottish Public Pensions Agency
STG Team
Tweedside Park
Tweedbank
Galashiels TD1 3TE
The following details should be provided: full name,
pension scheme, National Insurance number, date of birth
and current address and telephone number.