Local Government Pension Scheme 2014 – URGENT UPDATE

The Regulations changing the LGPS in England and Wales will come into force with effect from 1 April 2014 (click here for further details).

 

Anyone who has currently opted out of the LGPS (England and Wales) but wants to ensure the earnings link protection on any final salary benefits they have earned up to April 2014 (there may be some protection for those who opt back in within 5 years of opting out) MUST rejoin immediately.

Similarly, anyone in the LGPS (England and Wales) thinking of paying Additional Voluntary Contributions to maximise tax free lump sum payment when they retire (so they don’t have to exchange so much of their pension for cash at the relatively poor exchange rate of £12 cash £1 pension) should elect to pay the contributions BEFORE April 2014.

Further details can be found in this LGPS Campaign Update from UNISON. If you have any queries please contact the branch office as soon as possible.

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