Latest news & announcements

Your Annual Pension Benefit Statement 2017 is on its way

28 July 2017

If you are paying into the local government pension scheme (LGPS) you will receive an Annual Pension Benefit Statement from the Avon Pension Fund during August.

It shows the pension you have built up to 31 March 2017 as well as a future projection of your benefits if you remain paying into the scheme to your Normal Pension Age (NPA). This is the age you would retire and take your benefits without any reduction to your pension.

The statements will be posted out to you from mid to late August.

Brunel Partnership company recruiting

2 June 2017

The Brunel Pension Partnesrship company is now recruiting for executive roles. Details can be found at: https://www.brunelpensionpartnership.org/en/news/2017/05/brunel-company-executive-role-recruitment

SAB publishes annual report

24 May 2017

The Local Government Pension Scheme Advisory Board (SAB) has published its Annual Report. The report can be viewed at : http://www.lgpsboard.org/index.php/schemedata/scheme-annual-report

Survey on the 50/50 section of the LGPS

25 April 2017

The LGPS Scheme Advisory Board (SAB) has asked that Local Government Pension Scheme members are encouraged to complete an online survey regarding the 50/50 section of the scheme.

The survey is available at: www.lgpsmember.org

It will only take around 30 seconds to complete as there are a maximum of three questions to be answered and submissions will remain anonymous.

Planning for retirement - topping up your State Pension

20 April 2017

As a member of the Local Government Pension Scheme (LGPS) you were previously ‘contracted out’ of the additional State Pension and therefore received a rebate on your National Insurance (NI) contributions. From 6 April 2016 this rebate ceased and the LGPS is longer ‘contracted out’.

South West Pension Funds appoint independent chair

6 April 2017

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.

Fund publishes key financial reports

4 April 2017

The Avon Pension Fund has recently published three key financial reports.

These are the:

Investment Strategy Statement
Funding Strategy Statement
Actuarial Valuation Report

They can be viewed at: Finance and Investments

Transferring pension to an overseas scheme – new charge

15 March 2017

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

7 March 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

Statement of Compliance with FRC Stewardship code awarded Tier 1 assessment

15 December 2016

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.

Statement of Compliance with FRC Stewardship Code - 2016

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