Author Archives: Shirley Cuthbert

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Pensions Increase for 2019

Posted on by Shirley Cuthbert

Your pension increases each year in line with the Consumer Prices Index (CPI). The annual inflationary increase to pensions payable from 8th April 2019, has been set at 2.4%.

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2019 Retired Members’ Newsletter

Posted on by Shirley Cuthbert

The 2019 newsletter for retired Police members is now available.

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Don’t let a scammer enjoy your retirement

Posted on by Shirley Cuthbert

The Pensions Regulator has advised pension holders that if you are cold-called about your pension, or believe you could be the victim of pension fraud, please contact Action Fraud on 0300 1232040. Find out about the four simple steps to protect you from pension scams.

 

 

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Please check your email address book

Posted on by Shirley Cuthbert

We are now compliant with the new Government Digital Service (GDS) standards for email encryption. This means that there is no longer any need for separate GCSX email addresses.

To make sure that your emails still get to us, please update your email address books by removing ‘gcsx’ from any addresses you currently hold. If you do attempt to use a ‘gcsx’ address, your email may bounce. 

The changes guarantee that any email sent from a devon.gov.uk address, to an address ending in any of the following, remains secure:

gov.uk
pnn.police.uk
nhs.net
cjsm.net
mod.uk
Please be aware that we’re currently updating our forms and leaflets with new email addresses.

For any questions, please get in touch with Employer and Communications Manager, Shirley Cuthbert.

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Pensions Line May 2018 amendment

Posted on by Shirley Cuthbert

An amendment to the Annual Allowance email address. Pensions Line May 2018 amendment.

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Pensions Line May 2018

Posted on by Shirley Cuthbert

… including GDPR, the Annual Allowance for 2017/18, and LGPS Bulletins and Amendments. Pensions Line May 2018.

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Pensions Line March 2018

Posted on by Shirley Cuthbert

… including information on Employee Contribution Bands, Salary Sacrifice Shared Cost Additional Voluntary Contributions, and payment of pension fund contributions. Pensions Line March 2018.

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February 2018 Pensions Line

Posted on by Shirley Cuthbert

… including information on the Devon Pension Fund Annual Consultative Meeting. February 2018 Pensions Line.

 

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Changes to your pension – Active Members

Posted on by Shirley Cuthbert

There have been changes to the Local Government Pension Scheme (LGPS). These changes, unless indicated otherwise, came into effect from 14 May 2018.

Pre-April 2014 Additional Voluntary Contributions (AVC) contracts

If you are – or were – paying Additional Voluntary Contributions (AVCs) and the contract to pay those AVCs started before 1 April 2014, you will see some changes to the way your AVCs are calculated and how you can take your AVC plan.

If you are currently paying AVCs:
• you can now pay up to 100% (rather than 50%) of your pensionable pay into your AVC plan.
• AVCs will now also be deducted from any voluntary overtime you work (if you pay AVCs as a percentage of your salary).

When you take your AVC plan:
• if you leave the scheme with a deferred benefit you can now buy additional pension from the LGPS with your AVC plan when you take your benefits from the scheme.
• when you take your main scheme benefits you will no longer be able to leave your AVC invested and take it later.
• if you die before taking your AVC and a lump sum is to be paid from your AVC plan your pension fund now has absolute discretion over who to pay that sum to (rather than it having to be paid to your estate). If the lump sum is paid at the discretion of the pension fund it does not form part of the estate and will not be subject to inheritance tax.

Expansion of underpin protection

Underpin protection has now been extended to also apply to people who were active members of a different public service pension scheme on 31 March 2012 and who were within 10 years of age 65 on 1 April 2012; if these people join the LGPS and transfer their pension benefits from the other public service pension scheme into the new LGPS scheme and part or all of that transfer buys final salary benefits in the LGPS, subject to certain conditions, the underpin will apply.

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Changes to your pension – Deferred Members

Posted on by Shirley Cuthbert

There are changes to the Local Government Pension Scheme (LGPS). These changes, unless indicated otherwise, came into effect from 14 May 2018.

When you can take your pension

How you can take your Additional Voluntary Contributions

If you were a member of the LGPS on or after 1 April 2014 and you paid Additional Voluntary Contributions (AVCs) and the contract to pay those AVCs started before 1 April 2014, you will see some changes in how you can take your AVC plan.  When you take your AVC plan:

Underpin protection extended

The underpin protection has also changed and has been extended to also apply to people who were active members of a different public service pension scheme on 31 March 2012 and who were within 10 years of age 65 on 1 April 2012; if these people join the LGPS and transfer their pension benefits from the other public service pension scheme into the new LGPS scheme and part or all of that transfer buys final salary benefits in the LGPS, subject to certain conditions, the underpin will apply.

For more information look out for more information in the post or on Members’ Self Service.

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