New Consultation Issued

The Ministry of Housing, Communities & Local Government (MHCLG) have opened a 12 week policy consultation called ‘LGPS: Changes to the local valuation cycle and the management of employer risk policy’.

The consultation closes on 31 July 2019 and covers the following areas:
• amendments to the local fund valuations from the current 3 year (triennial) to a 4-year (quadrennial) cycle
• a number of measures aimed at mitigating the risks of moving from a triennial to a quadrennial cycle
• proposals for flexibility on exit payments
• proposals for further policy changes to exit credits
• proposals for changes to the employers required to offer local government pension scheme membership

The consultation documents are available on the LGPS Regulations scheme consultations page.

Annual Allowance 2018/19

As stated in last month's edition, the annual allowance calculations will shortly be due for the year 2018/19 for all scheme members currently contributing.

Action required: If not already done, please arrange for the Annual Allowance Spreadsheet on our website to be completed fully and returned to us as soon as possible and no later than the 5th July 2019. 

Please send the data titled ‘Annual Allowance 2018/2019’ to our secure mailbox at: finance.pensionstechnicaltraining-mailbox@devon.gov.uk .

You may also use this mailbox for queries relating to the spreadsheet and Annual Allowance.

Employee’s with a drop in pay

If a member has had a reduction or restriction (drop in rate of pay) in their permanent pensionable pay since 1st April 2008, they can choose to use the best 3-year average pensionable pay (ending on 31st March) over the last 13 years in the calculation of their final salary benefits. This protection will apply as long as it falls within the 10 years before they leave.

In these cases, you do not need to send us a Leaver form to protect their final salary benefits as the responsibility for protection now lies with the member and they must put their request in writing to us at least a month before they leave.

If this applies to any of your employee’s, please ensure they know that they can switch on their protection by sending them the Pensionable Pay factsheet on our website.

Clerk to Governors

We’d like to check the status and accuracy of the records we hold for any members of the LGPS who are employed as a Clerk to Governor. Historically they were often paid an honorarium and we have recorded them as working full-time, with a part-time pay figure.

It has recently come to our attention that some Clerks are recorded with part-time hours and full-time salaries, so to ensure a consistent approach we would be grateful if you could please provide a list of any members of the pension scheme working as a Clerk to Governor.

Please include the Employer Name, NI Number, Surname, Initials and Payroll Ref to assist in identifying the individual records and send your list to the Employer & Communications Team mailbox

End of Year Data

We received the majority of responses by the end of April this year so we would like to say a big thank you to you all for submitting your end of year data so quickly.

LGPS Scheme Advisory Board (SAB)

The SAB has published an advice note covering the implications of McCloud/Cost Cap in relation to the 2019 fund valuations which can be viewed here

TUPE’s & New Academies

If you are outsourcing services and have a number of staff who will be subject to TUPE and moving to a new employer or your school is converting to an Academy or moving MAT, please do not submit any leaver forms as this will complicate the process – instead there is a staff data capture spreadsheet you can complete on our website.

Keep us updated

Please remember to keep us updated with any changes in staff responsible for completing our forms (authorised signatories). This can be done by completing our via our online form.

You can also use this form to notify us of your IDRP Stage 1 Appeals Officer and any delegated authorised contacts.

Payment of Pension Fund Contributions

Please remember to inform us and the relevant Finance team each time you have paid your pension scheme contributions, by filling in the Monthly Contributions Form. If we receive the returns right away with the payments and they are correct - it makes the process so much easier, so please ensure that you build this form into your procedures.

If you are a Somerset Pension Fund employer, please contact the Corporate Finance Team for a copy of the Monthly Contribution Return: Corporatefinancepens@somerset.gov.uk

If you are a Devon Pension Fund Employer, you will need to use the online EAS5 form. If you have not already registered, a login can be obtained from the Employer and Communications Team.

Contacts

Employer & Communications  Team

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