Our new shared service website

Have you tried our all-new website? A huge redesign in 2024 has made everything brighter, fresher and easier to use. Whatever your area of interest, we think you’ll be able to get the information you need with no messing around, including a new area for everything Lincolnshire Pension Fund. Feedback has been very positive so far and we’re always interested to hear what you think of it. https://www.wypf.org.uk/ 

2024 LPF fund report

At the end of 2023/24, the value of the fund was £3.4 billion – an increase of £331.3 million from the previous year and a return of 10% on the fund’s investments.

The government's requirement for local government pension funds to pool assets has continued to keep us very busy, with Lincolnshire working closely with the other ten partner funds within Border to Coast Pensions Partnership Ltd. Stewardship and responsible investment are an integral part of the fund's investment strategy and decision making, and the fund works closely with Border to Coast to ensure that it invests in a sustainable way.

For more on all these issues and an easy to digest summary of the full Annual Report and Accounts visit https://www.wypf.org.uk/lpf/lpf-fund-report-2024/

Pension dashboards coming for all

The government wants the pension industry to provide clear and simple information about an your pension savings, including your State Pension and any other pensions you have. So the Department for Work and Pensions is creating a Pension Dashboard that will be free for all UK citizens to use to view their pension information securely, online and in one place. We’ll be connecting to this service from the start, this is likely to be in 2026. Find out more at https://www.wypf.org.uk/pension-dashboards/

McCloud ruling on age discrimination

When public service pension schemes, including ours, changed from final salary schemes to career average schemes in 2014 and 2015, only older members were protected from the changes. In 2018, the courts found that some younger members had been discriminated against. Not everyone’s affected by this by any means and increases to pensions are usually small, but you can read more about who’s affected and more at https://www.wypf.org.uk/lgps-members/lgps-knowledge-hub/mccloud-remedy/

Deferred pensions up by 6.7% in 2024

The 6.7% increase on deferred benefits was applied from 8 April 2024. This increase is based on the value of the Consumer Prices Index on 30 September in the previous year.