> COVID-19 and the LGPS
Your local LGPS fund is working hard to continue providing a service to you whilst monitoring the latest advice from the Government to protect their staff. Paying pensions and processing death benefits is a priority at this difficult time, so please be patient - it may take longer to deal with queries and other work, such as transfers and calculating early leaver benefits.
You may have read the news about the fall in the value of stock markets due to the coronavirus and the impact on pension savings in defined contribution pension schemes.
The LGPS is a defined benefit pension scheme which means that the value of your pension is not linked to stock market performance. Therefore, you can be assured that both your contributions and your pension, whether in payment or not, will be unaffected.
The only exception to this Additional Voluntary Contributions (AVCs). If you have an AVC, it is possible the value may have reduced - this will depend on the funds you have chosen to invest in. You should contact your AVC provider for more information about this.
We will be updating this page with more information in the coming days. Please check back regularly for updates.
> Age discrimination court case and the LGPS
The Government has confirmed there will be changes to all public sector pensions scheme, including the LGPS, as a result of the Court of Appeal’s ruling in the Judges and Firefighters Pension scheme……