News & Pensions Increase

The following section provides information on pensions increase and news for pensioner members.

Brexit

With the 31st October Brexit date fast approaching you may be concerned what this means for your pension.  As your entitlement is set out under law and is not linked to market returns we do not foresee any problems. We also do not envisage any difficulties in continuing to make payments to our pensioners living overseas.

 



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 Member Self Service 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 Member Self Service why not register now!

 



Spring Newsletter 2019

2019 Pensioner Spring Newsletter



Changes to Survivor Benefits

Changes to survivor benefits for same sex spouses and civil partners

Changes have been made to the scheme rules that provide survivor benefits payable to a same sex spouse or a civil partner. They now equal those paid to the widow of a male member. 
 

Why has the change been made? 

The change has been made as a result of a Supreme Court judgment (Walker v Innospec) which found that Mr Walker’s male spouse was entitled to the same benefits that would have been paid if Mr Walker had left a widow in an opposite sex marriage.
 

Why does this apply to the LGPS? 

The government believes that the implication of this judgment for all public service pensions schemes, including the LGPS, is that surviving civil partners or surviving same sex spouses should be provided with benefits equal to those that would be left to the widow of a male member. 
 

When does the change take effect from? 

The change is backdated to the date the civil partnerships and same sex marriages were introduced – this is 5 December 2005 for civil partnerships and 13 March 2014 for same sex marriages. 

This means that where a member of the LGPS has died leaving a surviving civil partner or a same sex spouse, the survivor’s pension in payment will need to be reviewed and any additional amounts paid, where applicable. We are in the process of reviewing the impact of this change and will be contacting affected civil partners and same sex spouses in due course.
 


Pension Paydays 2019/20

Pension Pay Days 2019-20 - This document outlines the dates in which pensioners will receive their payment from April 2018 to March 2019.



Pensions Increase 2019

The Government has approved the rate of increase for all public service pensions. The increase is effective from 8 April 2019 and is 2.4%.

The increase is set by reference to the Consumer Price Index in September 2018. It does not reflect the performance of the Pension Fund and we do not have the power to pay an additional increase.


LGPS National Insurance Database

A data sharing project with other LGPS pension funds in England, Wales and Scotland has been undertaken in order to comply with legal requirements contained in the LGPS’s governing regulations.

Provisions contained in the LGPS Regulations 2013 mean that, if a member of the LGPS dies, it is necessary for the scheme’s administrators to know if the individual also had other periods of LGPS membership elsewhere in the country so that the right death benefits can be calculated and paid to the deceased member’s dependants.

LGPS National Insurance Database - Privacy Notice



Health Plan

As part of our commitment to increase the range and value of benefits Bexley offer staff, we have launched a new cash health plan which will also be extended to pensioners.

We have joined with BHSF Limited, who are a  market-leading not-for-profit health insurer which can trace its history back to a charity which started in 1873.

BHSF insures 400,000 people through 225,000 policies. These policies help staff with their everyday health costs, that do not come free or easy on the NHS, such as optical, dental, hearing, health screening, therapies such as physiotherapy and osteopathy and much more, including access to a GP helpline 24/7 and a private prescription service.

Staff and ex staff who wish to take advantage of this scheme are able to choose the level of cover they require for a very competitive fixed net pay payroll deduction each month from their salary/pension. There is no heath history to complete, no age bands and no qualifying period for benefits ( other than Maternity).

Further information and application forms are available at the following site: 

https://www.bhsf.co.uk/apply/bexley

To apply Pensioners will need to quote the application code   WL0344B