Pension Awareness Day 15 September 2021

We thought that this would be a great opportunity for employers to engage with their staff on the LGPS. We have put together information on some key areas for you to consider sharing with them. The information below is set out as if we are talking to scheme members.

Peninsula Pensions is asking you to take time on Wednesday 15 September to think about your pension, as part of Pension Awareness Day. They would like to remind us of the following information which can help when making plans for future finance, whatever stage of career you are at.

Sign up to Peninsula Pensions Member Self Service

Member Self Service is easy to access and use. As well as using it to check information we hold, produce your own estimates, update personal information and view documents you can now upload documents and send Peninsula Pensions’ messages.

More information and a short video on Peninsula Pensions’ website is there to help you.

Why not consider Flexible Retirement?

The pandemic has made many people reassess their lives and has seen people changing careers and also retiring early. If this resonates with you, have you thought about Flexible Retirement?

With your employer’s agreement you can ease yourself into retirement from the age of 55 by reducing your hours and/or grade and still gain access to your pension. General information can be found on the Peninsula Pensions website. But if you want to know more speak to your HR team.

Be alert to online scams

Unfortunately during the pandemic there has been an increase in pension scams with a move to online scams. Scammers are targeting people searching for investments online and through social media. Please increase your awareness by visiting Peninsula Pensions website for further information.

A reminder about your contribution options

When you join the LGPS you are brought into the main scheme, however did you know that to help finances short term you could opt to pay into the 50/50 scheme?

Alternatively you may have recently looked at your personal benefit statement and want to increase contributions to improve your retirement income.

More information on the options available to you can be found on the Peninsula Pensions contribution pages.

 As you can see from the links above there is a lot of information on the Peninsula Pensions website. There is also the government-backed MoneyHelper website which has lot of information to help people with all aspects of finance.

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 online form.

You can also use this form to notify us of your IDRP Stage 1 Appeals Officer, your Payroll Provider, your contact for Interfaces and to sign up to our employer newsletter Pensions Line

Change of Payroll Provider & Provision of Data

It is important that you contact the Employer & Communications Team if you are changing your payroll provider. We can then work with you to ensure you put processes in place to retain access to historical payroll information and continue to fulfil your responsibilities as a Scheme employer.

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. 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. 

TUPEs & 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.

Contacts

Employer & Communications Team

Quick links

Employer Services (ESS) Guide

Peninsula Pensions Employers' Pages

Peninsula Pensions Employers' Guide

LGPS regulations and guidance

Fund Investments

LGPS National Website

Newsletters

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