The Shared Service celebrates ten years

Ten years ago West Yorkshire and Lincolnshire Pension Funds created the Pensions Administration Shared Service with the aim of improving efficiency, reducing costs and keeping public money in the public sector by collaborating on administration. It was such a success that the service soon expanded to include the London Boroughs of Hounslow and Barnet pension funds. Each partner fund retains its own identity and is responsible for the management and investment of their funds’ assets.

Read the full history on www.wypf.org.uk/corporate/shared-service/about-the-shared-service

CARE pensions up by 1.7% in April 2025

We adjust the pension you’ve built up since 2014 every April in line with the Treasury Department’s Revaluation Order (set in line with the increase in the Consumer Price Index (CPI) for the year to the September before the increase date). This increase will appear next year on your 2026 pension statement, so be sure to log into your pension account when you get our email about that so you can see how it affects the pension you’re building up.

Have you checked your 2025 pension statement?

You can see your latest statement anytime by signing in to your online pension account. We’ll let you know when your statement is available, but most members will be able to view their 2025 statement now. You should always check your statement carefully and if anything looks wrong – especially if it’s your pay – tell your employer straightaway.

Free online retirement planning courses and other events

Whether you're looking to understand a bit more about your pension, planning for retirement or just refreshing your knowledge, we hold events throughout the year to help. Visit our events pages to find out about upcoming course dates and other events. You can also watch recordings of some past events.

See the full schedule at www.wypf.org.uk/lgps-members/lgps-knowledge-hub/events

Earliest retirement age increasing to 57 from 2028

The government has announced that the earliest age you can take your pension will increase from age 55 to age 57 from 6 April 2028 (this doesn’t apply if you take your pension early due to ill health). Some members may be protected from this change but we do not know how yet. The government has not confirmed how this will be done and we’re expecting more information to come out in the autumn. We’ll continue to keep our website updated as we learn more about this www.wypf.org.uk/lgps-members/thinking-about-retiring

Our new ‘live chat’ service is ready for action

We know that not everyone wants to talk on the phone or has time to write to us by email. So we’re rolling out a new live chat service. When it’s available you’ll see the chat window on the www.wypf.org.uk homepage. It’s quick and easy to use but you’ll have plenty of time to put down your thoughts and questions, and we’ll help you just as quickly as if you’d phoned us. Why not give it a try the next time you need some help.

LGPS ‘Fit for the Future’ consultation

In July 2024 the new Labour Government launched a Pensions Review looking first at the LGPS and defined contribution schemes like personal pensions. One of the review’s main aims was to explore whether pension schemes could invest more of their assets to encourage economic growth in the UK. The ‘LGPS – Fit for the Future’ consultation followed, setting out proposals to reform LGPS investments and governance arrangements, and leading in 2025 to a bill to allow the measures to enter into law. A key part of the reforms is to require that all LGPS investments must be made through a reduced number of LGPS ‘asset pools’. While the reforms are unlikely to have any direct impact on members, over the long-term they should deliver additional value for money for employers and taxpayers and keep the LGPS in good shape for the future.