ANNUAL BENEFIT STATEMENTS FOR DEFERRED MEMBERS
A key communication from the Fund to members is the Annual Benefit Statement produced every year.
In the Autumn of 2008, statements were sent to all who were active members of the Local Government Pension Scheme (LGPS) on 31 March 2008. The vast majority of the statements were sent directly to members' home addresses. It is therefore essential that you inform us if you should change your address during the course of your membership of the Scheme.
In addition to showing the Local Government Pension Scheme (LGPS) benefits earned to
31 March 2008, the statements includes details of the lump sum payable on death in service and, if you have at least two years' membership, the benefits that might be paid to your eligible dependant and children. Your statement will also show if we have received a completed LGP25 Death Grant Nomination Form. If you have Additional Voluntary Contributions (AVCs), they are not shown as your AVC provider sends a separate statement annually.
If your working hours have changed since 31 March 2008, the membership used in the projected benefits at age 65 will be based on those amended hours, provided the Fund has been notified of the change by your employer.
The 2009 Statements due to be published in the Autumn will provide members with some additional information. We are once again able to display State Pension benefits and projected LGPS benefits to age 65.
Also as the Scheme regulations allow members to convert part of their annual pension into
tax free cash at retirement, we now display the maximum lump sum available and the resulting pension payable as a result of converting.
