Pensions Line

Peninsula Pensions

 A quarterly e-zine for Devon and Somerset LGPS employers


The Devon Investment and Pension Fund Committee met on 22 November. The minutes of the meeting can be found here


We are still waiting for the LGPS 2014 transitional regulations but have been busy working on information for employers and scheme members  

Action points

Are you ready for the new LGPS CARE Scheme?


Hopefully, you are aware that the LGPS is changing from April 2014 and will become a CARE (Career Average Revaluation Earnings) scheme. There are some big changes for employers to deal with in relation to the new scheme from April 2014 and it is essential that you are prepared for this. 

The Local Government Association has produced two very useful guides to help employers with this change. There is one guide for HR sections and another for Payroll sections, which were recently updated in January 2014.  Please take time to read these guides as soon as possible

 GAD Valuation Requirements 


We are currently assessing changes that will be required to ensure we meet all of GAD requirements held in this summary. Those who attended the recent Employer meetings will know that Employers will be required to split contributions between 50/50 and 100/100 within your end-of-year data to use, but we will also require the same to be done on your monthly reports. Further information will be provided in a LGPS 2014 Pensions Line special. 

Member Communication

Now is the time to start telling those staff who are members of the Local Government Pension Scheme about the imminent changes. To help you, we have produced a poster and leaflet for you to circulate around your workplace outlining the main points of the scheme, and contact details should anyone have any questions

A key change requiring action

The Local Government Pension Scheme (Miscellaneous Amendments) Regulations 2014 went through Parliament on 17 January 2014 and comes into force on 10 February 2014.  Details

Admin round-up

Pension Employer Meetings

Thank you to all who attended the presentation, a copy of which is online.  We are busy planning our next round of employer meetings which we are expecting to take place in Exeter and Taunton the week of 10 March

Peninsula Pensions shared service update

Auto Enrolment

For your information, the Eligible Workers earnings trigger for Auto Enrolment purposes has been increased to £10,000 p.a. for the year 2014/15

February 2014

Contacts Newsletters

Pensions admin 
Investments admin

Recent publications

LGE Bulletin
LGE Circular
Legislation / Guidance

Investment updates

Devon investment

The Devon Pension Fund is holding its Annual Consultative Meeting for staff and retired members on Friday 28 February at 2.15pm in the Daw Room, County Hall, Exeter. We  encourage all employers to make their staff aware of this event, and enable any interested staff to attend. Further details here

Somerset Fund / investment updates

All  the Somerset CC Pension Fund committee papers are  here, including an update on investment performance. Copies of the last five years of Pension Fund Accounts are here.  Please contact Anton Sweet 01823 356854 with any questions regarding the investment of the Somerset pension fund

Governance Policy and Compliance Statement  The Devon Investment and Pension Fund Committee considered a revised Governance Policy and Compliance Statement at the meeting held on 13 September. Find out more about the policy

The Devon Fund’s Annual Report and Accounts for 2012/13 are now available on the Peninsula Pensions website. If you would like a hard copy  please e-mail Mark Gayler. 

Investment report can be found here



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