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We are supporting the Pensions and Lifetime Savings Associations 2022 Autumn campaign – “Pay your pension some attention”.
Thursday 15th September is National Pension Awareness Day and we would like you to help us spread the word with some key messages for your employees. In this Pensions Line special we have put together some information for you to share with them.
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Our main source of communication with members is via our secure Member Self Service (MSS) online portal, it is therefore important that you sign up to the service. You can send/receive messages through it as well as update personal details and produce your own pension estimates quickly and easily. We have also just uploaded the 2022 personal benefit statements have you checked yours? More information can be found on our web page Member Self-Service - Peninsula Pensions.
We understand during times of financial hardship, scheme members may want to reduce their LGPS pension contributions. The 50/50 scheme is designed to help members remain in the pension scheme, paying half the normal contribution rates of the main scheme. You will still build up valuable pensions benefits, retaining full life and ill-health cover, including survivor benefits in the event of your death. More information can be found on our web page 50/50 section - Peninsula Pensions.
Please make sure your email address associated to your MSS account is updated and not your work email address. This will ensure we can send documentation to you through the portal.
Check out our Retiring from active status: the process page which provides you with details of the stages we follow to bring your pension into payment together with the timescales involved.
Unfortunately, pension scams are on the rise in the UK with people
losing some or all of their pension savings. Scammers have evolved
targeting people through social media.
Information can be found on our website:
Helping members avoid pension scams - Peninsula Pensions
In April 2022 850,000 households were estimated as missing out on Pension Credit because they think it isn’t meant for them. Pension Credit can be worth up to £3,300 a year and people may be eligible even if they have their own home or savings.
If you know someone who is retired please share information about Pension Credit with them. More information can be found at Pension credit – extra help for pensioners : LGPS (lgpsmember.org)
The cost of living crisis is affecting a large section of the population. MoneyHelper is a free service provided by the Money and Pension service who are sponsored by the Government.
They provide help and guidance about managing your money in uncertain times – this includes practical advice about living on a squeezed income and help if you’re struggling with bills and payments.
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