Latest news & announcements

South West Pension Funds appoint independent chair

The South West Pension Funds have appointed Denise Le Gal as its Independent Chair of the £25 billion Brunel Pension Partnership Limited.

The Partnership is one of eight national pooled funds, and will oversee the investment of the majority of pension assets for Avon, Buckinghamshire, Cornwall, Devon, Dorset, Environment Agency, Gloucestershire, Oxfordshire, Somerset, and Wiltshire Funds.

Transferring pension to an overseas scheme – new charge

At the Spring Budget 2017 the government announced that from 9 March 2017 a new 25% overseas transfer charge applies to some overseas pension transfers that were previously tax free. This will affect members of pension schemes requesting to transfer their pension to an overseas pension scheme.

You will still be able to make a transfer tax free if you are transferring to a qualifying recognised overseas pension scheme (known as QROPS) and formally requested your transfer before 9 March 2017 or one of the following apply:

New LGPS employee pay bands and contribution rates from April 2017

The government has confirmed the employee pay bands and contribution rates which will operate in the Local Government Pension Scheme (LGPS) in 2017/2018.

The nine pay bands and contribution rates will be uprated by 1% from 1 April 2017 - in line with September 2016’s Consumer Prices Index measure of inflation.

You can view the 2017/2018 LGPS employee contribution table at http://www.avonpensionfund.org.uk/how-much-do-i-pay

Preparing for retirement

Preparing for retirement

A series of free pre-retirement workshops is available to assist members of the pension scheme when they begin to think about planning for retirement.

The workshops are aimed at anyone considering leaving employment on normal, early or ill health retirement, or taking flexible retirement within the next 18 months or so. Partners are encouraged and welcome to attend.

Statement of Compliance with FRC Stewardship code awarded Tier 1 assessment

The FRC categorise signatories of the stewardship code based on the quality of their statement of compliance, the Avon Pension Fund has been awarded the highest Tier 1 assessment:

Tier 1 - Signatories provide a good quality and transparent description of their approach to stewardship and explanations of an alternative approach where necessary.

PDF iconStatement of Compliance with FRC Stewardship Code - 2016

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