If you left the LGPS with a deferred pension on or after 1 April 2015 your 2016 Deferred Members' Annual Benefit Statement is available
Submitted by Administrator on August 1, 2016 - 1:29pm
Members who left the LGPS with a deferred pension on or after 1 April 2015 can now view their 2016 Deferred Members' Annual Benefit Statement by logging into MyPension.
If you are not already a registered MyPension user, please register here.
A Deferred Members’ Annual Benefit Statement displays the value of a deferred member's benefits when they left the Scheme and the current value that takes account of any annual inflationary increases since the member left their LGPS employment or ceased contributing to the Scheme. However, on 11 April 2016, there was no annual inflationary increase to the value of your local government pension.
This is because, each year, the Fund increases local government pensions according to the government’s method for increasing public sector pensions - in line with the previous September’s inflation figure, as measured by the Consumer Prices Index (CPI). CPI in September 2015 was -0.1%, the first time since 2010, that a negative percentage had been recorded. Despite this, the value of your deferred benefits was not reduced in April 2016. Instead, the current value of your deferred benefits remain the same as in April 2015. Merseyside Pension Fund has no discretion in applying or not applying a pension increase as the Local Government Pension Scheme is subject to annual increases contained within the Pension Increase Act 1974.
These statements have been produced using information supplied to Merseyside Pension Fund by your former LGPS employer and cannot be guaranteed as accurate. They are produced on the understanding that they are not legally binding on Merseyside Pension Fund.
You can read more information about your 2016 Annual Statement by clicking here.