Avon Pension Fund
Administered by Bath and North East Somerset Council
Administered by Bath and North East Somerset Council
Welcome
to the Active Members AreaThis section is here for those of you who are contributing to the Local Government Pension Scheme.
The "New Look" Local Government Pension Scheme (LGPS) was introduced from 1st April 2008, changing the cost and benefits of being a member of the LGPS.
The main details of the Scheme are:
Contributions
Employee Contributions determined by Employer based on Pay Band Scales
Employer Contributions assessed by the Fund Actuary every 3 years following Fund valuation.
Benefits
| Annual Pension | = | 1/60th | X | Final pay X each year of service from 1 April 2008 |
| Annual Pension | = | 1/80th | X | Final pay X each year of service to 31 March 2008 |
| Lump Sum | = | 3/80th | X | Final pay X each year of service to 31 March 2008 |
| Provision to give up pension for extra lump sum up
to limit laid down by HMRC [Each £1 pension given up provides £12 lump sum] |
||||
Death Benefits
| Death in Service Life Cover | = | 3 X Actual Pensionable Pay | |
| Death on Pension Guarantee | = | 10 X Pension | |
| Death on Deferred Guarantee | = | 5 X Pension | |
| Partners Pensions basis for benefits | = | 1/60th of your final pay for each year service | |
| [N.B. No short term benefits] | |||
| Pensions for eligible Children | |||
Provisions to pay for Additional Benefits
Additional Regular Contributions [ARC] = Buys extra pension
Additional Voluntary Contributions [AVC] = Pays into Money Purchase Fund
Should there be any information you require which cannot be found, in this section or within the site please do not hesitate to contact the pension fund.
| 11/05/2009 |
