News

This section provides news for members of the scheme.

Pensioners Spring Newsletter 2020

Pensioners Spring Newsletter 2020



Deferred Members Newsletter 2020

 

Deferred Members Newsletter 2020



Pay Days 2020-21

Thursday 30th April 2020
Thursday 28th May 2020
Thursday 25th June 2020
Thursday 30th July 2020
Thursday 27th August 2020
Thursday 24th September 2020
Thursday 29th October 2020
Thursday 26th November 2020
Thursday 24th December 2020
Thursday 28th January 2021
Thursday 25th February 2021
Thursday 25th March 2021
* Please note pensions are paid early in December due to the Christmas period.

 



Pensions Increase 2020

Both deferred and pensioner members receive an annual cost of living award applied to their pensions. This ensures they keep up with the cost of living.  

The Government has approved the rate of increase for all public service pensions. The increase is effective from 6 April 2020 and is 1.7%.

The increase is set by reference to the Consumer Price Index in September.

 
If you have retired throughout the year you will receive a slightly lower pro rata rate:  

 

Pensions Beginning
 

 Increase                

6 April 2019 - 23 April 2019 1.7%
24 April 2019 - 23 May 2019 1.56%
24 May 2019 - 23 June 2019 1.42%
24 June 2019 - 23 July 2019 1.28%
24 July 2019 - 23 August 2019 1.13%
24 August 2019 - 23 September 2019 0.99%
24 September 2019 - 23 October 2019 0.85%
24 October 2019 - 23 November 2019 0.71%
24 November 2019 - 23 December 2019 0.57%
24 December 2019 - 23 January 2020 0.43% 
24 January 2020 - 23 February 2020 0.28%
24 February 2020 - 23 March 2020 0.14%

Where the value of your pension payment is relatively low, you may wish to arrange to have this paid on a quarterly basis to avoid unnecessary charges. If you would like to discuss this please contact us



Government denied request for an appeal in McCloud case

The Supreme Court denied the Government’s request for an appeal on 27 June 2019, in the McLeod case in respect of age discrimination and pension protection. We are waiting for details on the next steps but expect that the Home office/Government will now start to work on ‘remedy’. The implications of this ruling could be far more wide ranging than the Firefighters scheme as similar protections were introduced into all the unfunded public sector scheme as they moved from Final Salary to Career Average Revalued Earnings (CARE). The LGPS had taken a different approach to protect members close to state pension, however until we receive further information we don’t know who would be covered in any ‘remedy’.



Do you need a P60?

You may never need a printed copy of your P60.

What is a P60?

A P60 is a statement which is issued to taxpayers each year. The P60 contains information about how much you have earned and how much tax you have paid (if applicable).


When do I need a P60?

You may never need a paper version of your P60 as often just having the figures will suffice. You may need information from your P60 in the following scenarios:

  • Filling in a self-assessment tax return
  • Applying for a mortgage or tax credits
  • Claiming a tax refund
  • Queries with HMRC

If you are registered for My Pension Online then you can view your P60 at any time, meaning that there is no need for printing and storing things manually. Your online account acts as a virtual filing cabinet for your P60s and pay slips. You will find the P60 under the Member Documents option once you are logged in.


If you haven't already registered for my Pension Online register now!

 



Changes to Survivor Benefits

Scheme Improvement for Dependants

Following a recent Supreme Court judgement, the Home Office have issued amendment regulations that will provide benefits to surviving civil partners and surviving spouses of same-sex marriages that are equal to the benefits that would have been provided had the member been male and the survivor been female. The amendment will have effect back to 5 December 2005 for civil partnership cases and back to 13 March 2014 for same-sex marriage cases.

We will review any past cases and pay improved benefits if appropriate.