Devon and Somerset forge new futures

Work continues towards the Government’s objective of LGPS funds pooling their investments to achieve savings in investment management costs. The Devon and Somerset funds have both committed to the Brunel pool. The latest Project Brunel newsletter can be found here.

The Brunel Pension Partnership now has its own website www.brunelpensionpartnership.org which gives details of how the project is progressing, plus copies of the submissions to government.

Could you host our employer seminars?

It’s getting close to that time of year again and we are looking for some different locations to accommodate bigger catchment areas for our scheme employers.

We need to hire conference facilities which will comfortably hold approximately 70-80 attendees, will provide an easy link from a laptop to a projector (with the option of a microphone) and of course provide tea, coffee and biscuits! The seminars are planned for October/November so if you are able to host one for us, please contact Emma Davies with details of your facilities and approximate costs.

Transfers in to the LGPS

All new employees have 12 months from their start date to transfer any previous pensions into the LGPS. After that window has closed, it is an employer’s decision whether, with the agreement of the Pension Fund administering authority, to permit a scheme member to elect to transfer other pension rights into the LGPS [regulation 100(6) of the LGPS Regulations 2013]. Please let us know - if you haven't already done so - what your policy is on this. Read the full article here.

Eligible children's pensions

As you may be aware the changes in regulations for the LGPS 2014 bought with them a change in the definition of a dependant child. The involvement of the employer’s Occupational Health Doctor (IRMP) is a new requirement. Read more. 

Senior Peninsula Pensions staff changes

Since our last issue, there have been a number of staff changes at Peninsula Pensions, with changes to people working in the Deputy Head of Peninsula Pensions for Benefits role, the Deputy Head of Pensinsula Pensions for Technical & Systems role, and the Police and Fire Team Manager role. Find out more.

Somerset employers' meeting

Somerset Investments are holding an employers meeting at Millington House on Friday 23rd September at 9.30am. The meeting will mostly cover actuarial and investments matters. If you would like to attend, please RSVP to pmew@somerset.gov.uk

Contacts

Employer Liaison Team
Investments

Quick Links

New Academy Guidance
IDRP Guidance
New Employer Guidance
LGPS regulations and guidance

Snippets

Equitable Life E0707 and E0086 changes
Equitable Life have changed the way they process the allocation of contributions to member benefits. More.

Buying lost pension for an absence - a reminder
It is preferable that, unless likely to cause financial hardship, smaller costs are deducted from pay as a one-off lump sum –  the cost of which is available using the on-line APC calculator. If you have any questions please contact the Additional Benefits team.

Salary sacrifice SCAVCs The LGA has updated the legislative references from the section of LGPC circular 244 (salary sacrifice) concerning SCAVCs.  Appendices 2 and 3 outline their understanding of the current position in both England and Wales and Scotland, respectively.

Consultation updates

Exit Payments
Final regulations and implemention dates on exit payments are still not available, with a November or December date looking likely. Find out more.

LGPS regulations
The LGS have responded to the consultation on the Fair Deal guidance. Find out more.

Salary sacrifice
Salary sacrifice for the provision of benefits in kind started 10 August 2016 and will run until 19 October 2016; the consultation document can be found here.