Latest news & announcements

Avon Pension Fund - Annual Report 2015/16

Annual Report 2015-16 CoverThe Avon Pension Fund has published its Annual Report 2015/16. It provides information on the management and administration of the Avon Pension Fund during the year.The report includes a review of the year, audited accounts, the Actuarial Statement, investment performance, membership details and any changes to the Local Government Pension Scheme during the 2015/16 financial year.

PDF iconAnnual Report 2015-2016

Update on £95,000 cap on exit payments and recovery regulations

The Government is likely to introduce the cap of £95,000 on the total value of exit payments, such as those made on voluntary and compulsory redundancy, early next year.

The Government has provided the following update on the exit payments cap and the recovery regulations:

There will be a further consultation this autumn on regulations for the £95,000 exit payments cap, so they will not be in force in October as originally anticipated. Following this consultation it is hoped that regulations will be published and in force early next year.

HMRC Lifetime Allowance Protection – online member service

Members usually pay tax if their pension pots are worth more than the Lifetime Allowance. The allowance is currently £1 million. While the majority of members of the Local Government Pension Scheme will be unaffected, those members that are may be able to apply for protections and an online facility to register for Fixed Protection 2016 and Individual Protection 2016 is now open for individuals to access.

Annual deferred pension statement delayed if you left in 2015/16

There will be a delay in the sending of the annual pension benefit statement for deferred members who left the Local Government Pension Scheme (LGPS) between 1 April 2015 and 31 March 2016.

If you previously paid into the LGPS but haven’t yet retired you are known as a deferred member and your pension benefits are frozen or preserved.

As a deferred member every year we send you your Annual Deferred Pension Statement, which shows the current value of your deferred benefits you have with the Avon Pension Fund as at 6 April.

Pages

Subscribe to Avon Pension Fund - Latest news & announcements