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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
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.
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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
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
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