Hertfordshire Pensions Update - Your Pension Pensions Update A newsletter for Hertfordshire...
5
Hertfordshire Pensions Update A newsletter for Hertfordshire employers May 2014 Issue Highlights: ► LGPS 2014 ► Monthly Contributions ► LGPC Bulletin We have now added a new leaflet to the website called ‘Benefits of the LGPS’ which is designed to promote the positive aspects of the scheme. As employers you may find this useful in advertising the benefits of the scheme without becoming a salesman. You can find the leaflet here Also, the member guides have been updated to reflect the new scheme. These can be found on the members tab of our website: www.yourpension.org.uk/Hertfordshire/Information-for-members/Guides-Factsheets ‘Benefits of the LGPS’ Promotional Leaflet & New Member Guides This leaflet is for employees in England or Wales and reflects the provisions of the LGPS and overriding legislation at the time of publication in April 2014.The Government may make changes to overriding legislation and, after consultation with interested parties, may make changes in the future to the LGPS. This leaflet is a brief guide to the scheme and cannot cover every personal circumstance. In the event of any dispute over your pension benefits, the appropriate legislation will prevail. This leaflet does not confer any contractual or statutory rights and is provided for information purposes only. For further information visit www.yourpension.org.uk Published by LPFA, Dexter House, 2 Royal Mint Court, London, EC3N 4LP Want to know more? If you want to know more about the scheme, or if you have membership in the scheme before 1 April 2014 and want to know how benefits built up before then are worked out, you can get more information at www.yourpension.org.uk Remember . . . A pension isn’t only about your future. As a member of the LGPS you still get valuable life cover, with a lump sum of 3 years pay if you die in service, cover for your family, with pensions for your dependents if you die, and ill health cover for you. And you can also pay more to buy extra pension. To recap . . . • You have access to a scheme offering secure benefits • You pay pension contributions and your employer pays too • Your pension is worked out each year with inflation added so it keeps up with the cost of living • You have the freedom to choose when to take your pension between age 55 and 75 • You can exchange part of your pension on retirement for a tax-free lump sum a tiered ill-health retirement package - if you have to leave work at any age due to permanent ill health the scheme provides you with a pension, paid straight away, which could be paid at an increased rate if you are unlikely to be capable of gainful employment within 3 years of leaving. early payment of your benefits - if you are made redundant or retired on business efficiency grounds and you are aged 55 or over. flexible retirement - available from age 55 if you reduce your hours, or move to a less senior position. Provided your employer agrees, you can draw some or all of your benefits, helping you ease into your retirement. Protection against inflation when you’ve drawn your pension - you can look forward to a pension for life that increases with the cost of living. Transferring into the LGPS You can also transfer previous pension rights into the scheme. Deferred benefits held in the LGPS in England and Wales are normally automatically transferred, unless you decide within 12 months of joining the LGPS to keep them separate. For transfers from other pension schemes you may be able to transfer and you normally have 12 months from joining to opt to make a transfer. Opting out of the LGPS You can leave the LGPS at any time once you are a member by giving your employer notice in writing. You might, however, want to take independent financial advice before making the final decision to opt out. And don’t forget you can, as an alternative, opt for 50/50 which allows you to remain in the scheme, building up valuable pension rights, but pay half your normal contributions for half your normal pension. If you opt out before completing 3 months membership you will be treated as never having been a member and your employer will refund to you, through your pay, any contributions you have paid during that time. If you opt out with 3 or more months membership but less than 2 years you can take a refund of your contributions (less any statutory deductions) or transfer out your pension to another scheme. If you opt out after 2 years you will have deferred benefits in the scheme which can, if you want, be transferred out to another scheme. If you opt- out, you can, provided you are otherwise eligible to join the scheme, opt back into the scheme at any time before age 75. If you opt out of the LGPS and your employer is required to comply with the automatic enrolment provisions under the Pensions Act 2008, your employer may automatically enrol you into the LGPS at certain times. Your employer must notify you if this happens. You would then have the right to opt out of the LGPS. if you’re worried you can’t afford it - think again If you pay tax you get tax relief on your pension contributions, as your contributions are deducted from your pay before you pay tax. You also (up to State Pension Age) pay reduced national insurance contributions (although this reduction is expected to be removed from April 2016 - full details on how this will work have yet to be finalised). Your employer currently automatically pays the balance of the cost of providing your pension benefits. you also have flexibility to pay less - with the option to pay half your normal contributions in return for half your normal pension, known as 50/50. This is designed to help members stay in the scheme when times are financially tough. you have flexibility to pay more - you can boost your pension by paying more contributions which you would get tax relief on. Options include Additional Pension Contributions (APCs) and Additional Voluntary Contributions (AVCs). Benefits at Retirement The LGPS is a great way to save for your future. You build up a pension from the day you join the scheme and once you’ve been paying in for 2 years your benefits include: a secure pension - every scheme year (1 April to 31 March) an amount equal to a 49th of your pay in that year is added to your pension account. At the end of every scheme year the total pension in your account is adjusted to take into account the cost of living (as currently measured by the Consumer Prices Index (CPI)). Tax-free cash - you have the option, when you draw your pension, to exchange part of it for some tax-free cash. The freedom to choose when to take your pension - your Normal Pension Age is linked to your State Pension Age but you do not need to have reached your Normal Pension Age in order to take your pension. You can choose to retire and draw your pension at any time between age 55 and 75. Your Normal Pension Age is simply the age you can retire and take the pension you’ve built up in full. If you choose to take your pension before your Normal Pension Age it will normally be reduced, as it’s being paid earlier. If you take it later than your Normal Pension Age it’s increased because it’s being paid later. To find out your State Pension Age please visit: www.gov.uk/calculate-state-pension 50/50 Each month Your pension account Did you know: • The LGPS is an important part of your employment package and provides an excellent range of benefits • You pay your contributions and your employer pays too • The scheme is flexible - you can choose to pay less or more, and you can draw your benefits anytime from age 55 to 75 • The benefits you get include a pension when you retire as well as immediate life cover and ill- health protection • There are also benefits for your loved ones with pensions for dependants if you die. Here is how the scheme works Cost The amount you pay depends on how much you are paid in your job. The rates vary from 5.5% to 12.5%, and your contribution rate depends on the band you fall into in the table below. Member Contribution Table 2014/15 Pay Bands Contribution Rates Up to £13,500 5.5% £13,501 - £21,000 5.8% £21,001 - £34,000 6.5% £34,001 - £43,000 6.8% £43,001 - £60,000 8.5% £60,001 - £85,000 9.9% £85,001 - £100,000 10.5% £100,001 - £150,000 11.4% Over £150,000 12.5% When you join, and every April afterwards, your employer will decide your appropriate contribution rate from the contributions table. Also if your pay changes throughout the year your employer may decide to review your contribution rate. The contribution rates and / or pay bands in this table will be reviewed periodically and may change in the future. Local Government Pension Scheme (LGPS) Are you saving enough for your future? Can you afford to live on your basic state pension? The maximum basic state pension is £113.10 per week (2014/15 unmarried rate) You could start saving for your future now with the LGPS benefiTs of The lgps - May 2014 for you, for now, for the future
Transcript of Hertfordshire Pensions Update - Your Pension Pensions Update A newsletter for Hertfordshire...
Hertfordshire Pensions UpdateA newsletter for Hertfordshire employers May 2014
Issue Highlights LGPS 2014
Monthly Contributions
LGPC Bulletin
We have now added a new leaflet to the website called lsquoBenefits of the LGPSrsquo which is designed to promote the positive aspects of the scheme As employers you may find this useful in advertising the benefits of the scheme without becoming a salesman
You can find the leaflet here
Also the member guides have been updated to reflect the new scheme These can be found on the members tab of our website wwwyourpensionorgukHertfordshireInformation-for-membersGuides-Factsheets
lsquoBenefits of the LGPSrsquo Promotional Leafletamp New Member Guides
ThisleafletisforemployeesinEnglandorWalesandreflectstheprovisionsoftheLGPSandoverridinglegislationatthe
timeofpublicationinApril2014TheGovernmentmaymakechangestooverridinglegislationandafterconsultationwith
interestedpartiesmaymakechangesinthefuturetotheLGPSThisleafletisabriefguidetotheschemeandcannotcover
everypersonalcircumstanceIntheeventofanydisputeoveryourpensionbenefitstheappropriatelegislationwillprevail
Thisleafletdoesnotconferanycontractualorstatutoryrightsandisprovidedforinformationpurposesonly
Forfurtherinformationvisitwwwyourpensionorguk
PublishedbyLPFADexterHouse2RoyalMintCourtLondonEC3N4LP
Wanttoknowmore
Ifyouwanttoknowmoreabouttheschemeorifyouhavemembershipintheschemebefore1
April2014andwanttoknowhowbenefitsbuiltupbeforethenareworkedoutyoucangetmore
informationatwwwyourpensionorguk
RememberApensionisnrsquotonlyaboutyourfuture
AsamemberoftheLGPSyoustillgetvaluable life coverwithalumpsumof3yearspayifyou
dieinservicecover for your familywithpensionsforyourdependentsifyoudieandill health
cover for you
Andyoucanalsopaymoretobuy extra pension
Torecap
bullYouhaveaccesstoaschemeofferingsecurebenefits
bullYoupaypensioncontributionsandyouremployerpaystoo
bullYourpensionisworkedouteachyearwithinflationaddedsoitkeepsupwiththecostof
livingbullYouhavethefreedomtochoosewhentotakeyourpensionbetweenage55and75
bullYoucanexchangepartofyourpensiononretirementforatax-freelumpsum
a tiered ill-health retirement package -ifyouhavetoleaveworkatany
ageduetopermanentillhealththeschemeprovidesyouwithapensionpaid
straightawaywhichcouldbepaidatanincreasedrateifyouareunlikelytobe
capableofgainfulemploymentwithin3yearsofleavingearly payment of your benefits - ifyouaremaderedundantorretiredon
businessefficiencygroundsandyouareaged55oroverflexible retirement - availablefromage55ifyoureduceyourhoursormove
toalessseniorpositionProvidedyouremployeragreesyoucandrawsomeor
allofyourbenefitshelpingyoueaseintoyourretirementProtection against inflation when yoursquove drawn your pension -youcan
lookforwardtoapensionforlifethatincreaseswiththecostoflivingTransferringintotheLGPSYoucanalsotransferpreviouspensionrightsintotheschemeDeferredbenefits
heldintheLGPSinEnglandandWalesarenormallyautomaticallytransferred
unlessyoudecidewithin12monthsofjoiningtheLGPStokeepthemseparate
Fortransfersfromotherpensionschemesyoumaybeabletotransferandyou
normallyhave12monthsfromjoiningtoopttomakeatransfer
OptingoutoftheLGPSYoucanleavetheLGPSatanytimeonceyouareamemberbygivingyour
employernoticeinwritingYoumighthoweverwanttotakeindependentfinancial
advicebeforemakingthefinaldecisiontooptoutAnddonrsquotforgetyoucanasan
alternativeoptfor5050whichallowsyoutoremainintheschemebuildingup
valuablepensionrightsbutpayhalfyournormalcontributionsforhalfyournormal
pension
Ifyouoptoutbeforecompleting3monthsmembershipyouwillbetreatedas
neverhavingbeenamemberandyouremployerwillrefundtoyouthrough
yourpayanycontributionsyouhavepaidduringthattimeIfyouoptoutwith
3ormoremonthsmembershipbutlessthan2yearsyoucantakearefundof
yourcontributions(lessanystatutorydeductions)ortransferoutyourpensionto
anotherschemeIfyouoptoutafter2yearsyouwillhavedeferredbenefitsinthe
schemewhichcanifyouwantbetransferredouttoanotherschemeIfyouopt-
outyoucanprovidedyouareotherwiseeligibletojointheschemeoptbackinto
theschemeatanytimebeforeage75IfyouoptoutoftheLGPSandyouremployerisrequiredtocomplywiththe
automatic enrolmentprovisionsunderthePensionsAct2008youremployer
mayautomaticallyenrolyouintotheLGPSatcertaintimesYouremployermust
notifyyouifthishappensYouwouldthenhavetherighttooptoutoftheLGPS
if yoursquore worried you canrsquot afford it - think again
Ifyoupaytaxyougett
ax relief on your pension contributionsasyour
contributionsarededuc
tedfromyourpaybefor
eyoupaytaxYoualso
(upto
StatePensionAge)pay reduced national insurance contributions(although
thisreductionisexpecte
dtoberemovedfromA
pril2016-fulldetailso
nhowthis
willworkhaveyettobe
finalised)Youremployer currentlya
utomaticallypays
the balanceofthecostofprovidin
gyourpensionbenefits
you also have flexibility to pay less - withtheoptiontopay
halfyournormalcontrib
utionsinreturnforhalf
yournormal
pensionknownas5050Thisisdes
ignedtohelpmembers
stay
intheschemewhentime
sarefinanciallytough
you have flexibility to pay more -youcanboostyourpe
nsionbypayingmore
contributionswhichyou
wouldgettaxreliefon
OptionsincludeAdditio
nalPension
Contributions(APCs)an
dAdditionalVoluntaryC
ontributions(AVCs)
BenefitsatRetirement
TheLGPSisagreatway
tosaveforyourfuture
Youbuildupapension
fromthe
dayyoujointhescheme
andonceyoursquovebeen
payinginfor2yearsyo
urbenefits
include
a secure pension -everyschemeyear(1
Aprilto31March)ana
mountequal
toa49thofyourpayin
thatyearisaddedtoyo
urpensionaccountAtt
heend
ofeveryschemeyearth
etotalpensioninyoura
ccountisadjustedtota
keinto
accountthecostoflivin
g(ascurrentlymeasure
dbytheConsumerPric
esIndex
(CPI))
Tax-free cash -youhavetheoption
whenyoudrawyourpe
nsiontoexchange
partofitforsometax-f
reecash
The freedom to choose when to take your pension -yourNormalPension
AgeislinkedtoyourSt
atePensionAgebutyo
udonotneedtohaver
eached
yourNormalPensionAg
einordertotakeyourp
ensionYoucanchoose
to
retireanddrawyourpe
nsionatanytimebetwe
enage55and75Your
Normal
PensionAgeissimplyth
eageyoucanretirean
dtakethepensionyoursquov
ebuilt
upinfullIfyouchoose
totakeyourpensionbe
foreyourNormalPensio
nAgeit
willnormallybereduce
dasitrsquosbeingpaidear
lierIfyoutakeitlater
thanyour
NormalPensionAgeitrsquos
increasedbecauseitrsquosb
eingpaidlater
TofindoutyourStatePe
nsionAgepleasevisit
wwwgovukcalculate-s
tate-pension
5050
EachmonthYour
pension account
Did you know
bullTheLGPSisan
importa
ntpartofyouremploymentpackageandprovidesanexcellentrangeof
benefits
bullYoupayyourcontributionsandyour e
mployer pays t
oo
bullTheschem
eisflexible
-youcanchoosetopaylessormoreandyoucandrawyourbenefits
anytimefrom
age55to75
bullThebenefits
yougetincludeapensionwhenyouretireaswellasim
mediatelifecoverandill-
healthprotection
bullTherearealsobenefitsforyourlo
ved oneswithpensionsfordependantsifyoudie
Hereishowtheschemeworks
Cost
Theamountyoupaydependsonhow
muchyouarepaidinyourjobTheratesvaryfrom
55to
125
andyourcontributionratedependsonthebandyoufallintointhetablebelow
Member Contri
bution Table 201415
PayBands
ContributionRates
Uptopound13500
55
pound13501-pound21000
58
pound21001-pound34000
65
pound34001-pound43000
68
pound43001-pound60000
85
pound60001-pound85000
99
pound85001-pound100000
105
pound100001-pound150000
114
Overpound150000
125
WhenyoujoinandeveryAprilafterwardsyouremployerwilldecideyourappropriatecontribution
ratefrom
thecontributionstableAlsoifyourpaychangesthroughouttheyearyouremployermay
decidetoreviewyourcontributionrateThecontributionratesandorpaybandsinthistablewill
bereviewedperiodicallyandmaychangeinthefuture
LocalG
overnm
entPensionScheme(LGPS)
AreyousavingenoughforyourfutureCanyouaffordtoliveonyour
basicstatepensionThemaximumbasicstatepensionispound11310per
week(201415unmarriedrate)Youcouldstartsavingforyourfuture
nowwiththeLGPS
benefiTs of The lgps -
May 2014
for you fo
r now fo
r the fu
ture
5050 Election Form
We have received a number of comments on the volume of words contained in the current election form for members wishing to move into the 5050 section We plan to review and edit the form shortly to make it easier to understand whilst still ensuring that neither the LPFA or the employer could be accused of miss-selling the section
5050
Discretions
Below is a breakdown of the new discretions required under the new LGPS2014 these discretions should be made and in place by 30 June 2014
bull Voluntary funding of additional pension via Shared Cost Additional Pension Contribution (SCAPC) contract either by regular on going contribution or by one-off lump sum
bull Flexible retirement
bull Waiving all or part of an actuarial reduction
bull Award of additional pension (at whole cost to the employer)
bull Whether to apply 85 year rule to scheme member wishing to voluntarily draw benefits on or after 55 and before age 60
On our website are LPFArsquos draft discretionary policies which can be used as a guide
wwwyourpens ionorgukHert fordsh i reInformation-for-employersDiscretionary-Policies
Buying back lost pension (Shared Cost Additional Pension Contributions SCAPCs)
In some circumstances a member can buy back lost pension (for example for a period of authorised unpaid additional Maternity Adoption and Paternity leave or periods of unpaid authorised leave of absence) where the employer must also pay towards buying back this lost pension The Shared Cost Additional Pension Contributions (SCAPCs) factors to enable any member of staff returning from a period of unpaid leave have now been received and we can calculate the cost to the member to buy the lost pension back There is also a calculator for members to populate to see how much it costs to buy back lost pension for a period of absence
The calculator can be found here
We will amend our processes to ensure that anyone in this position is given the opportunity to buy back the lost pension however it should be noted that there is a much shorter time scale built into the new scheme for members wanting to buy back lost pension and receive any contribution from their employer (30 days)
PLEASE NOTE Employers should be aware that penalties will be incurred for late payments or non submission of monthly contribution forms on each occasion the deadline is not met This includes poormissing details on the contribution form as this incurs further work to correct or chase correct data on the forms
Monthly Contribution Forms
The deadline for monthly submission of Monthly Contribution Returns and payment of contributions is the 19th of each month For example for May payroll the due date for payment of contributions would be the 19th June and you should ensure that the funds are remitted in sufficient time to clear into the Pension Fund bank account by the 19th Employers paying by cheque need to ensure the cheque is received by us allowing 5 days for the cash to clear by the 19th (Please note if the 19th falls on a weekend you need to ensure that the payment of contributions are paid into the account prior to the 19th)
Employers that pay a lump sum in addition to their Employer contribution rate need to ensure these payments are paid on a monthly basis unless the Hertfordshire Pension Fund has agreed other payment arrangements If it has been agreed to pay a higher contribution rate to incorporate the lump sum payments you will still need to detail the breakdown per month on the contribution form
Contribution Returns should be submitted by email to hertsyearendlpfaorguk and contributions should be paid by BACS to the HCC Pensions-
LGPS Account number 23601137 Sort Code 20-17-19
The current penalties for late submission are set out in the Administration Strategy
If you should have any queries about this please contact Rachel Tisbury
Rachel TisburyProjects Team Leader01992 588 307racheltisburylpfaorguk
201415 Monthly Contribution Forms
The 1415 Monthly Contribution Forms have now been sent to all employers if you have not received this form please contact us on
01992 556 747 or hertsyearendlpfaorguk
Local Government Pensions Committee (LGPC)
As well as the usual latest updates on the structure of the 2014 Scheme and its Regulations the LGPC bulletin 114 contains a few other useful pieces of information
Training UpdateCircular 279 contains details of the forthcoming Practitioner workshops aimed primarily at those working in administering authorities and an Automatic Enrolment workshop aimed at scheme employer staff who are responsible for liaising with the Administering Authorities This course runs on various dates and venues through June and July
View Circular 279 here
Trusteesrsquo ConferenceCircular 280 contains the latest information on the forthcoming LGPS Trusteesrsquo Conference taking place on 19th and 20th June in Bournemouth
View Circular 280 here
The Pensions Regulator (tPR)TPR have recently published the findings of their review of record keeping which generally found good practise in the industry but they have also opened seven cases where they are investigating the findings of the report
The full report can be found on the tPRrsquos website here
State Pension Top-UpAt the last Budget the Government announced a new class of voluntary National Insurance contributions designed to allow some current pensioners and those soon to reach State Pension Age to boost their state pension Further details of this have now been released in a Ministerial Statement which can be found here and the Department for Work and Pensions has issued guidance regarding this which can be found here
Jacqui LawrenceTechnical Officer020 7369 2688jacquilawrencelpfaorguk
We have a general HELPLINE NUMBER which is 01992 555466 This will put you through to a member of the Pension Team
If you have a specific enquiry you can telephone individual members of our team who will be happy to help you
Claire Robertson 01992 555 369 Team Leader Oliver Gardner 01992 555 466 Pensions AdministratorCaroline Clarke 01992 555 492 Pensions AdministratorGill Spicer 01992 555 468 Pensions Administrator Alex Achilles 01992 555 453 Pensions Administrator Sheila Rogers 01992 555 463 Pensions Administrator Susan Kirkby 01992 555 453 Pensions AdministratorJeremy Edgar 01992 555 466 Pensions Administrator Louise Charman 01992 555 478 Team Leader Paul Farrant 01992 555 461 Pensions Payroll AdministratorJohn Sawford 01992 555 461 Pensions Payroll AdministratorKevin Ayres 01992 555 461 Pensions Payroll AdministratorNatasha Thomas 01992 555 466 Pensions AdministratorCarol Smith 01992 555 466 Pensions AdministratorTheresa Makewell 01992 555 356 Pensions Administrator Claire Jarvis 01992 555 466 Pensions AdministratorLaura Hughes 01992 555 453 Pensions Administrator
For any in depth Pension Regulation enquiries please contactJohn Smith 01992 555 466 johnsmithlpfaorguk
For report requests please contactGeoff Phelan 01992 555 466 geoffphelanlpfaorguk
For any year end enquiries please contact the Projects TeamRachel Tisbury 01992 588 307 Team Leader Tina Mellor 01992 558 307 Pensions Administrator Victoria Hyam 01992 555 460 Pensions AdministratorIain Bagnall 01992 555 460 Pensions AdministratorRoss Curtis 01992 555 460 Pensions AdministratorMichelle OrsquoConnor 01992 588 307 Finance OfficerHolly Barnard 01992 556 747 Finance Admin AssistantAlyson Sharpe 01992 556 747 Finance Admin Assistant
Please return electronic year end spreadsheets (winzipped and password protected) to hertsyearendlpfaorguk
For any customer liaison presentations and employer guide enquires please contact the Pensions Service Delivery Manager
Taryn Mutter 01992 555 466 tarynmutterlpfaorguk
Postal address- LPFA Hertfordshire County Council Post Point CHO 033 County Hall Pegs Lane Hertford Herts SG13 8DQFax- 01992 588 401General Enquiries- hertscclpfaorgukWebsite- wwwyourpensionorguk
Contact Us
5050 Election Form
We have received a number of comments on the volume of words contained in the current election form for members wishing to move into the 5050 section We plan to review and edit the form shortly to make it easier to understand whilst still ensuring that neither the LPFA or the employer could be accused of miss-selling the section
5050
Discretions
Below is a breakdown of the new discretions required under the new LGPS2014 these discretions should be made and in place by 30 June 2014
bull Voluntary funding of additional pension via Shared Cost Additional Pension Contribution (SCAPC) contract either by regular on going contribution or by one-off lump sum
bull Flexible retirement
bull Waiving all or part of an actuarial reduction
bull Award of additional pension (at whole cost to the employer)
bull Whether to apply 85 year rule to scheme member wishing to voluntarily draw benefits on or after 55 and before age 60
On our website are LPFArsquos draft discretionary policies which can be used as a guide
wwwyourpens ionorgukHert fordsh i reInformation-for-employersDiscretionary-Policies
Buying back lost pension (Shared Cost Additional Pension Contributions SCAPCs)
In some circumstances a member can buy back lost pension (for example for a period of authorised unpaid additional Maternity Adoption and Paternity leave or periods of unpaid authorised leave of absence) where the employer must also pay towards buying back this lost pension The Shared Cost Additional Pension Contributions (SCAPCs) factors to enable any member of staff returning from a period of unpaid leave have now been received and we can calculate the cost to the member to buy the lost pension back There is also a calculator for members to populate to see how much it costs to buy back lost pension for a period of absence
The calculator can be found here
We will amend our processes to ensure that anyone in this position is given the opportunity to buy back the lost pension however it should be noted that there is a much shorter time scale built into the new scheme for members wanting to buy back lost pension and receive any contribution from their employer (30 days)
PLEASE NOTE Employers should be aware that penalties will be incurred for late payments or non submission of monthly contribution forms on each occasion the deadline is not met This includes poormissing details on the contribution form as this incurs further work to correct or chase correct data on the forms
Monthly Contribution Forms
The deadline for monthly submission of Monthly Contribution Returns and payment of contributions is the 19th of each month For example for May payroll the due date for payment of contributions would be the 19th June and you should ensure that the funds are remitted in sufficient time to clear into the Pension Fund bank account by the 19th Employers paying by cheque need to ensure the cheque is received by us allowing 5 days for the cash to clear by the 19th (Please note if the 19th falls on a weekend you need to ensure that the payment of contributions are paid into the account prior to the 19th)
Employers that pay a lump sum in addition to their Employer contribution rate need to ensure these payments are paid on a monthly basis unless the Hertfordshire Pension Fund has agreed other payment arrangements If it has been agreed to pay a higher contribution rate to incorporate the lump sum payments you will still need to detail the breakdown per month on the contribution form
Contribution Returns should be submitted by email to hertsyearendlpfaorguk and contributions should be paid by BACS to the HCC Pensions-
LGPS Account number 23601137 Sort Code 20-17-19
The current penalties for late submission are set out in the Administration Strategy
If you should have any queries about this please contact Rachel Tisbury
Rachel TisburyProjects Team Leader01992 588 307racheltisburylpfaorguk
201415 Monthly Contribution Forms
The 1415 Monthly Contribution Forms have now been sent to all employers if you have not received this form please contact us on
01992 556 747 or hertsyearendlpfaorguk
Local Government Pensions Committee (LGPC)
As well as the usual latest updates on the structure of the 2014 Scheme and its Regulations the LGPC bulletin 114 contains a few other useful pieces of information
Training UpdateCircular 279 contains details of the forthcoming Practitioner workshops aimed primarily at those working in administering authorities and an Automatic Enrolment workshop aimed at scheme employer staff who are responsible for liaising with the Administering Authorities This course runs on various dates and venues through June and July
View Circular 279 here
Trusteesrsquo ConferenceCircular 280 contains the latest information on the forthcoming LGPS Trusteesrsquo Conference taking place on 19th and 20th June in Bournemouth
View Circular 280 here
The Pensions Regulator (tPR)TPR have recently published the findings of their review of record keeping which generally found good practise in the industry but they have also opened seven cases where they are investigating the findings of the report
The full report can be found on the tPRrsquos website here
State Pension Top-UpAt the last Budget the Government announced a new class of voluntary National Insurance contributions designed to allow some current pensioners and those soon to reach State Pension Age to boost their state pension Further details of this have now been released in a Ministerial Statement which can be found here and the Department for Work and Pensions has issued guidance regarding this which can be found here
Jacqui LawrenceTechnical Officer020 7369 2688jacquilawrencelpfaorguk
We have a general HELPLINE NUMBER which is 01992 555466 This will put you through to a member of the Pension Team
If you have a specific enquiry you can telephone individual members of our team who will be happy to help you
Claire Robertson 01992 555 369 Team Leader Oliver Gardner 01992 555 466 Pensions AdministratorCaroline Clarke 01992 555 492 Pensions AdministratorGill Spicer 01992 555 468 Pensions Administrator Alex Achilles 01992 555 453 Pensions Administrator Sheila Rogers 01992 555 463 Pensions Administrator Susan Kirkby 01992 555 453 Pensions AdministratorJeremy Edgar 01992 555 466 Pensions Administrator Louise Charman 01992 555 478 Team Leader Paul Farrant 01992 555 461 Pensions Payroll AdministratorJohn Sawford 01992 555 461 Pensions Payroll AdministratorKevin Ayres 01992 555 461 Pensions Payroll AdministratorNatasha Thomas 01992 555 466 Pensions AdministratorCarol Smith 01992 555 466 Pensions AdministratorTheresa Makewell 01992 555 356 Pensions Administrator Claire Jarvis 01992 555 466 Pensions AdministratorLaura Hughes 01992 555 453 Pensions Administrator
For any in depth Pension Regulation enquiries please contactJohn Smith 01992 555 466 johnsmithlpfaorguk
For report requests please contactGeoff Phelan 01992 555 466 geoffphelanlpfaorguk
For any year end enquiries please contact the Projects TeamRachel Tisbury 01992 588 307 Team Leader Tina Mellor 01992 558 307 Pensions Administrator Victoria Hyam 01992 555 460 Pensions AdministratorIain Bagnall 01992 555 460 Pensions AdministratorRoss Curtis 01992 555 460 Pensions AdministratorMichelle OrsquoConnor 01992 588 307 Finance OfficerHolly Barnard 01992 556 747 Finance Admin AssistantAlyson Sharpe 01992 556 747 Finance Admin Assistant
Please return electronic year end spreadsheets (winzipped and password protected) to hertsyearendlpfaorguk
For any customer liaison presentations and employer guide enquires please contact the Pensions Service Delivery Manager
Taryn Mutter 01992 555 466 tarynmutterlpfaorguk
Postal address- LPFA Hertfordshire County Council Post Point CHO 033 County Hall Pegs Lane Hertford Herts SG13 8DQFax- 01992 588 401General Enquiries- hertscclpfaorgukWebsite- wwwyourpensionorguk
Contact Us
PLEASE NOTE Employers should be aware that penalties will be incurred for late payments or non submission of monthly contribution forms on each occasion the deadline is not met This includes poormissing details on the contribution form as this incurs further work to correct or chase correct data on the forms
Monthly Contribution Forms
The deadline for monthly submission of Monthly Contribution Returns and payment of contributions is the 19th of each month For example for May payroll the due date for payment of contributions would be the 19th June and you should ensure that the funds are remitted in sufficient time to clear into the Pension Fund bank account by the 19th Employers paying by cheque need to ensure the cheque is received by us allowing 5 days for the cash to clear by the 19th (Please note if the 19th falls on a weekend you need to ensure that the payment of contributions are paid into the account prior to the 19th)
Employers that pay a lump sum in addition to their Employer contribution rate need to ensure these payments are paid on a monthly basis unless the Hertfordshire Pension Fund has agreed other payment arrangements If it has been agreed to pay a higher contribution rate to incorporate the lump sum payments you will still need to detail the breakdown per month on the contribution form
Contribution Returns should be submitted by email to hertsyearendlpfaorguk and contributions should be paid by BACS to the HCC Pensions-
LGPS Account number 23601137 Sort Code 20-17-19
The current penalties for late submission are set out in the Administration Strategy
If you should have any queries about this please contact Rachel Tisbury
Rachel TisburyProjects Team Leader01992 588 307racheltisburylpfaorguk
201415 Monthly Contribution Forms
The 1415 Monthly Contribution Forms have now been sent to all employers if you have not received this form please contact us on
01992 556 747 or hertsyearendlpfaorguk
Local Government Pensions Committee (LGPC)
As well as the usual latest updates on the structure of the 2014 Scheme and its Regulations the LGPC bulletin 114 contains a few other useful pieces of information
Training UpdateCircular 279 contains details of the forthcoming Practitioner workshops aimed primarily at those working in administering authorities and an Automatic Enrolment workshop aimed at scheme employer staff who are responsible for liaising with the Administering Authorities This course runs on various dates and venues through June and July
View Circular 279 here
Trusteesrsquo ConferenceCircular 280 contains the latest information on the forthcoming LGPS Trusteesrsquo Conference taking place on 19th and 20th June in Bournemouth
View Circular 280 here
The Pensions Regulator (tPR)TPR have recently published the findings of their review of record keeping which generally found good practise in the industry but they have also opened seven cases where they are investigating the findings of the report
The full report can be found on the tPRrsquos website here
State Pension Top-UpAt the last Budget the Government announced a new class of voluntary National Insurance contributions designed to allow some current pensioners and those soon to reach State Pension Age to boost their state pension Further details of this have now been released in a Ministerial Statement which can be found here and the Department for Work and Pensions has issued guidance regarding this which can be found here
Jacqui LawrenceTechnical Officer020 7369 2688jacquilawrencelpfaorguk
We have a general HELPLINE NUMBER which is 01992 555466 This will put you through to a member of the Pension Team
If you have a specific enquiry you can telephone individual members of our team who will be happy to help you
Claire Robertson 01992 555 369 Team Leader Oliver Gardner 01992 555 466 Pensions AdministratorCaroline Clarke 01992 555 492 Pensions AdministratorGill Spicer 01992 555 468 Pensions Administrator Alex Achilles 01992 555 453 Pensions Administrator Sheila Rogers 01992 555 463 Pensions Administrator Susan Kirkby 01992 555 453 Pensions AdministratorJeremy Edgar 01992 555 466 Pensions Administrator Louise Charman 01992 555 478 Team Leader Paul Farrant 01992 555 461 Pensions Payroll AdministratorJohn Sawford 01992 555 461 Pensions Payroll AdministratorKevin Ayres 01992 555 461 Pensions Payroll AdministratorNatasha Thomas 01992 555 466 Pensions AdministratorCarol Smith 01992 555 466 Pensions AdministratorTheresa Makewell 01992 555 356 Pensions Administrator Claire Jarvis 01992 555 466 Pensions AdministratorLaura Hughes 01992 555 453 Pensions Administrator
For any in depth Pension Regulation enquiries please contactJohn Smith 01992 555 466 johnsmithlpfaorguk
For report requests please contactGeoff Phelan 01992 555 466 geoffphelanlpfaorguk
For any year end enquiries please contact the Projects TeamRachel Tisbury 01992 588 307 Team Leader Tina Mellor 01992 558 307 Pensions Administrator Victoria Hyam 01992 555 460 Pensions AdministratorIain Bagnall 01992 555 460 Pensions AdministratorRoss Curtis 01992 555 460 Pensions AdministratorMichelle OrsquoConnor 01992 588 307 Finance OfficerHolly Barnard 01992 556 747 Finance Admin AssistantAlyson Sharpe 01992 556 747 Finance Admin Assistant
Please return electronic year end spreadsheets (winzipped and password protected) to hertsyearendlpfaorguk
For any customer liaison presentations and employer guide enquires please contact the Pensions Service Delivery Manager
Taryn Mutter 01992 555 466 tarynmutterlpfaorguk
Postal address- LPFA Hertfordshire County Council Post Point CHO 033 County Hall Pegs Lane Hertford Herts SG13 8DQFax- 01992 588 401General Enquiries- hertscclpfaorgukWebsite- wwwyourpensionorguk
Contact Us
Local Government Pensions Committee (LGPC)
As well as the usual latest updates on the structure of the 2014 Scheme and its Regulations the LGPC bulletin 114 contains a few other useful pieces of information
Training UpdateCircular 279 contains details of the forthcoming Practitioner workshops aimed primarily at those working in administering authorities and an Automatic Enrolment workshop aimed at scheme employer staff who are responsible for liaising with the Administering Authorities This course runs on various dates and venues through June and July
View Circular 279 here
Trusteesrsquo ConferenceCircular 280 contains the latest information on the forthcoming LGPS Trusteesrsquo Conference taking place on 19th and 20th June in Bournemouth
View Circular 280 here
The Pensions Regulator (tPR)TPR have recently published the findings of their review of record keeping which generally found good practise in the industry but they have also opened seven cases where they are investigating the findings of the report
The full report can be found on the tPRrsquos website here
State Pension Top-UpAt the last Budget the Government announced a new class of voluntary National Insurance contributions designed to allow some current pensioners and those soon to reach State Pension Age to boost their state pension Further details of this have now been released in a Ministerial Statement which can be found here and the Department for Work and Pensions has issued guidance regarding this which can be found here
Jacqui LawrenceTechnical Officer020 7369 2688jacquilawrencelpfaorguk
We have a general HELPLINE NUMBER which is 01992 555466 This will put you through to a member of the Pension Team
If you have a specific enquiry you can telephone individual members of our team who will be happy to help you
Claire Robertson 01992 555 369 Team Leader Oliver Gardner 01992 555 466 Pensions AdministratorCaroline Clarke 01992 555 492 Pensions AdministratorGill Spicer 01992 555 468 Pensions Administrator Alex Achilles 01992 555 453 Pensions Administrator Sheila Rogers 01992 555 463 Pensions Administrator Susan Kirkby 01992 555 453 Pensions AdministratorJeremy Edgar 01992 555 466 Pensions Administrator Louise Charman 01992 555 478 Team Leader Paul Farrant 01992 555 461 Pensions Payroll AdministratorJohn Sawford 01992 555 461 Pensions Payroll AdministratorKevin Ayres 01992 555 461 Pensions Payroll AdministratorNatasha Thomas 01992 555 466 Pensions AdministratorCarol Smith 01992 555 466 Pensions AdministratorTheresa Makewell 01992 555 356 Pensions Administrator Claire Jarvis 01992 555 466 Pensions AdministratorLaura Hughes 01992 555 453 Pensions Administrator
For any in depth Pension Regulation enquiries please contactJohn Smith 01992 555 466 johnsmithlpfaorguk
For report requests please contactGeoff Phelan 01992 555 466 geoffphelanlpfaorguk
For any year end enquiries please contact the Projects TeamRachel Tisbury 01992 588 307 Team Leader Tina Mellor 01992 558 307 Pensions Administrator Victoria Hyam 01992 555 460 Pensions AdministratorIain Bagnall 01992 555 460 Pensions AdministratorRoss Curtis 01992 555 460 Pensions AdministratorMichelle OrsquoConnor 01992 588 307 Finance OfficerHolly Barnard 01992 556 747 Finance Admin AssistantAlyson Sharpe 01992 556 747 Finance Admin Assistant
Please return electronic year end spreadsheets (winzipped and password protected) to hertsyearendlpfaorguk
For any customer liaison presentations and employer guide enquires please contact the Pensions Service Delivery Manager
Taryn Mutter 01992 555 466 tarynmutterlpfaorguk
Postal address- LPFA Hertfordshire County Council Post Point CHO 033 County Hall Pegs Lane Hertford Herts SG13 8DQFax- 01992 588 401General Enquiries- hertscclpfaorgukWebsite- wwwyourpensionorguk
Contact Us
We have a general HELPLINE NUMBER which is 01992 555466 This will put you through to a member of the Pension Team
If you have a specific enquiry you can telephone individual members of our team who will be happy to help you
Claire Robertson 01992 555 369 Team Leader Oliver Gardner 01992 555 466 Pensions AdministratorCaroline Clarke 01992 555 492 Pensions AdministratorGill Spicer 01992 555 468 Pensions Administrator Alex Achilles 01992 555 453 Pensions Administrator Sheila Rogers 01992 555 463 Pensions Administrator Susan Kirkby 01992 555 453 Pensions AdministratorJeremy Edgar 01992 555 466 Pensions Administrator Louise Charman 01992 555 478 Team Leader Paul Farrant 01992 555 461 Pensions Payroll AdministratorJohn Sawford 01992 555 461 Pensions Payroll AdministratorKevin Ayres 01992 555 461 Pensions Payroll AdministratorNatasha Thomas 01992 555 466 Pensions AdministratorCarol Smith 01992 555 466 Pensions AdministratorTheresa Makewell 01992 555 356 Pensions Administrator Claire Jarvis 01992 555 466 Pensions AdministratorLaura Hughes 01992 555 453 Pensions Administrator
For any in depth Pension Regulation enquiries please contactJohn Smith 01992 555 466 johnsmithlpfaorguk
For report requests please contactGeoff Phelan 01992 555 466 geoffphelanlpfaorguk
For any year end enquiries please contact the Projects TeamRachel Tisbury 01992 588 307 Team Leader Tina Mellor 01992 558 307 Pensions Administrator Victoria Hyam 01992 555 460 Pensions AdministratorIain Bagnall 01992 555 460 Pensions AdministratorRoss Curtis 01992 555 460 Pensions AdministratorMichelle OrsquoConnor 01992 588 307 Finance OfficerHolly Barnard 01992 556 747 Finance Admin AssistantAlyson Sharpe 01992 556 747 Finance Admin Assistant
Please return electronic year end spreadsheets (winzipped and password protected) to hertsyearendlpfaorguk
For any customer liaison presentations and employer guide enquires please contact the Pensions Service Delivery Manager
Taryn Mutter 01992 555 466 tarynmutterlpfaorguk
Postal address- LPFA Hertfordshire County Council Post Point CHO 033 County Hall Pegs Lane Hertford Herts SG13 8DQFax- 01992 588 401General Enquiries- hertscclpfaorgukWebsite- wwwyourpensionorguk
Contact Us
