Local Government Pension scheme (LGPS)

Local Government Pension Scheme

Topping up your State Pension

Whilst your LGPS pension forms a very important part of your retirement planning it is important not to forget about your State Pension.  If you are not on track to get the full amount of State Pension (or you are not receiving the full amount if you have already drawn your State Pension), then it’s worth considering topping up. More information is available in this leaflet Topping Up your State Pension (DOC, 105 KB)

Border to Coast Pension Partnership

Please find information on the proposed ‘Border to Coast Pension Partnership’.

LGPS Pension Board

In accordance with the Public Service Pensions Act 2013, a Pensions Board was established from 1 April 2015.  The Pensions Board has responsibility for assisting Warwickshire Pension Fund as the Funds Scheme Manager. Please visit our webpage for more information about the Pension Board


Check your Pension Annual Allowance

HMRC have provided a calculator for members of occupational pension schemes to check their annual allowance usage, tax charge (if applicable) and carry forward from the last 3 years.

The pensions team can provide you with your annual allowance the financial year, but please note WCC are unable to advise on pension decisions. Should you have any doubts about your annual allowance, or how to proceed if you breach the limit, you may wish to consult an independent financial adviser.


News about a Standard Life Fund

If you are invested in Standard Life Ethical Pension Fund please see the attached letter regarding this fund:


HMRC Telephone Scam

There is currently a telephone scam where a recorded message is left, allegedly from HMRC, stating that HMRC are bringing a lawsuit against the individual and is going to sue them.

The recipient is asked to phone 0161 850 8563 and press “1” to speak to the officer dealing with the case. This scam is becoming widely reported and seems to be targeting older people. Please do not reply to the message.

HMRC takes security very seriously but you need to be alert. If you cannot verify the identity of the person making the call you should not disclose your personal details. You should report these incidents on the Action Fraud website, or you can call them on 0300 123 2040 (Please note this number will be charged at your normal network rate). They are open Monday to Friday 09:00 – 18:00.

To learn more about dealing with phishing and scams visit Gov.UK.


Pensions Increases and Negative Inflation (deflation)

The level by which a local government pension is increased is determined by central government and is based on the rate of increase in the Consumer Prices Index (CPI) in September of the year prior to the April the increase is awarded.

This means the rate of increase awarded for April 2016 would be the rate of CPI determined in September 2015 and the rate of CPI for September was (minus) – 0.10%.

This does not mean however, that the pensions in payment will be reduced, because although the Pensions (Increase) Act 1971 provides powers to increase the annual rate of a pension it does not provide the power to decrease a pension where CPI is negative. Therefore, in a period of deflation, pensions in payment will not be increased.


Changes to the State Pension Scheme

A fact sheet and further information is now available for Public Service Employees about contracting out of the Additional State Pension for Defined Benefit Pension Schemes.


Life Time Allowance

The latest newsletter about Lifetime Allowance reduction and transitional protections is now available.

Lifetime Allowance. Warwickshire Pension Fund together with Hyman Robertson have provided more information on the standard life allowance which may affect employees earning over £40k or have the potential to be earning this amount in the future. A copy of the presentation slides and newsletter are now available.

Please find attached factsheets on Pension Taxation’s relating to Annual Allowance and Lifetime Allowance:


The New State Pension and National Insurance Changes

A new single tier, flat rate State Pension is being introduced for people who reach State Pension age on or after 6 April 2016. This will affect your National Insurance contributions.


<h2New members

Are you a new member who has been brought into the Scheme by your employer and want to remain in the Scheme? If the answer is YES complete the membership and expression of wish forms found below. If the answer is NO and you want to opt out please use the pension opt out link under Useful Links ONLY if you work for WCC. For NON WCC employees, please use the Opt Out form under ‘Forms’ below.


2014 scheme updates

A written ministerial statement from the Secretary of State for Communities and Local Government, Eric Pickles MP, on the Local Government Pension Scheme (LGPS). See also The Local Government Pension Scheme 2014 website for the latest news.


About us – Warwickshire pension fund

Warwickshire County Council administers the scheme on behalf of the Local Government Pension Scheme. We currently administer the scheme for 77 employers, including District and Borough Councils, charitable organisations, schools and colleges.


Pension contributions

More information on and Additional Pension Contributions (APC’s) or Additional Voluntary Contributions (AVC’s) can be made.


Help with pension problems

If you are in any doubt about your benefit entitlements, or have a problem or question about your Local Government Pension Scheme membership or benefits.


LGPS fund information and annual reports

Financial information available to download, details of fund managers and pension fund investment board members.


Pension guides, publications and newsletters

Publications available to download, scheme changes and up to date newsletters for active, deferred and pensioner members.


Information for retired members


Information for employers

The latest LGPS information, guidance and forms for employers.


Information for firefighters

WCC administers the Firefighters pension scheme for Warwickshire Fire and Rescue.


Forms

Local Government Pension scheme (LGPS) was last updated on February 16, 2017.


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