Essential information for employers on the exit cap

The LGA have published an information note for employers on the exit cap. The document sets out a step by step process for employers to follow from 4 November 2020 for redundancy and efficiency exits, where the employee is a member of the LGPS and aged 55 or over.

The document is available on the employer guides and documents page of www.lgpsregs.org. It supplements the information provided on the Scheme Advisory Board’s website.

We are currently looking at our administering duties regarding this regulatory change and will be in touch shortly. In the meantime any employers who believe they have a case where a member’s exit cap breaches £95k please contact us immediately.

Coronavirus(COVID-19): Information for employers

Following the new Government measures in place to contain and reduce the impact of Coronavirus, Peninsula Pensions has implemented changes inline with our Business Continuity Plan to ensure that we can continue to provide an excellent service to all our stakeholders. The Pension Regulator and Local Government Association have also provided guidance for scheme members. Further COVID 19 information.

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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