Thank you for taking the time to respond to our Employers’
Survey last year. Apologies that it has taken us a while to get back to you
about the results.
We plan to make some changes in response to your
comments – find out about the results of the survey on the website.
Thank you to all those employers who have already submitted
their year-end data. If you have not already submitted yours, please do so as
soon as possible.
Full information about the data required can be found here.
2016 is valuation year, when the actuary values the fund and
its liabilities and sets the contribution rates payable by employers for the 3
years from April 2017. Please respond promptly to any queries on your year-end data.
Please find the timetable on the website.
There have been three consultations since August last year
relating to restricting exit payments from the public sector.
The first was to restrict total exit payments to a cap of
£95k.
The second was for repayments of exit payments.
The third concerns the Government’s desire to standardise
redundancy payments across the public sector and options on restricting or
removing redundancy pensions.
More information is available on the website.
A new national website for members of the LGPS has been launched. www.lgpsmember.org replaces www.lgps.org.uk and www.lgps2014.org. The Additional Pension Contributions calculator is now on the new website.
Please update anything which directs members to the old national websites (including letters about buying back lost pension that direct members to the calculator).
Please make new starters aware that they need to sign up to Member Self Service to receive future communications from us. All communication to new starters happens electronically so if they don’t sign up, they won’t receive newsletters or their annual statements. Find out more.
We would like to remind all academies that they should
notify us if they join or leave a Multi-Academy Trust (MAT) or if a MAT is
disbanded. It is the MAT that is the employer rather than the individual
schools so we need to know when this changes.
The 2013 Regulations provide that benefits built up from 1st
April 2014 (CARE benefits) are revalued each year in line with CPI. This year,
CPI was negative so the revaluation applied to active members’ benefits as at midnight
on 31st March was -0.1%.
Following
changes made to HMRC's Annual Allowance and Lifetime Allowance regimes, the CLG
have produced some useful factsheets for members explaining how the changes work and
when they might affect them. These have now been added to our website and can be
found at:
Annual Allowance
Lifetime Allowance
As you are aware Prudential is our appointed in house AVC provider and part
of their service is to offer presentations to employees in your workplace about AVCs and topping
up benefits together with general information about how the scheme works. Find out more.
|
