News
Category: tell your members
The Local Government Pension Scheme (LGPS) and stock markets
The Local Government Pension Scheme (LGPS) and stock markets There’s has been a lot of disturbing news lately about the fall in stock markets and the potential impact on defined contribution pensions. LGPS defined benefit pensions are not linked to stock market...
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Update on McCloud
When the Government reformed public service pension schemes in 2014 and 2015 they introduced protections for older scheme members. The Court of Appeal ruled that younger members of the Judges and Firefighters Pension schemes were discriminated against because the...
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Pension scam victims lost an average of £82,000 in 2018
Research from the Financial Conduct Authority (FCA) and The Pensions Regulator (TPR) says it could take a saver 22 years to build a pension pot of £82,000, which was the average amount victims lost to scams in 2018. Pension scams can start with an unexpected call,...
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Government appeal denied in McCloud and Sargent case
The McCloud and Sargent cases concern the transitional protections given to members of the Fire Fighters and Judges Pension schemes, who in 2012 were within 10 years of their normal retirement age, as part of public service pensions reform. These protections were...
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Exit payments cap summary
The government first announced plans to cap exit payments in the public sector in 2015. On 10 April 2019 HM Treasury (HMT) launched a consultation on draft regulations, guidance and Directions to implement the cap. This document summarises the proposals as they relate...
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Changes to buying additional pension contributions
The factors used to work out the cost of buying additional pension are checked and changed from time to time. The Ministry of Housing Communities and Local Government (MHCLG) issued revised factors on 14 March 2019 following a review by The Government Actuary’...
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