CPPIB Cash in Lieu Allowance Guide

General Rules of the CIL Allowance

• The CIL Allowance has been created to help only individuals genuinely affected by pension legislation. • Individuals applying for the LTA CIL allowance will be asked for copies of their existing fixed protection certificates. • The CIL does not form part of your contractual salary. CIL does not affect any future salary related pay changes or anything else linked to basic salary (e.g. Group Life Assurance, Group Income Protection). • In the event of a future salary change, the CIL will be recalculated accordingly from the same calendar month. • The CIL will start from April onwards (or from the month of opt-in, for newly eligible individuals). • Requests for non-default levels of CIL or pension contribution will not be considered. Individuals will have the opportunity to use any spare pension allowance by participating in CPPIB ’s Salary Exchange Scheme or In-Year Incentive Award Exchange Scheme. • If the CIL option is selected, this will apply for the entire tax year. It is not possible to switch between standard pension membership and CIL mid-year unless an individual receives a mid-year promotion and/or pay increase. • A review period will be set for March each year. During this period, individuals will have the option to select CIL for the first time (if qualifying conditions are met) or switch back to standard pension membership if the TAA is not going to apply in the following tax year. • IMPORTANT NOTE – all CIL participants will not be asked to re-apply each year. If an individual previously selected CIL, it will be assumed that they wish to continue with the CIL allowance unless advised to the contrary during the March review period. • The CIL Allowance stops on cessation of employment with CPPIB.

To select the CIL allowance you must complete the provided CIL Application form (this should be completed on screen) and email to James Murray Associates (corporate@jmurray.co.uk)

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