Avon Pension Fund
Administered by Bath and North East Somerset Council
Administered by Bath and North East Somerset Council
Welcome
to the Retired Members Area|
This section is here for those of you who are approaching retirement or
who have already retired from the LGPS. The "New Look" Local Government Pension Scheme (LGPS) was introduced from 1st April 2008, changing the cost and benefits of being a retired member of the LGPS. The main details of the Scheme are as follows: |
Payment of your Pension
| Pay Dates |
| When you can expect to receive payment of your pension each month |
| Tax Code Queries |
| Help in directing retirees to the HMRC website, and the Avon Pension Fund reference number. |
| Tax Allowances & State Benefits |
| Your yearly tax allowances and where to find out about state benefit entitlements |
| Living Abroad |
| Information on procedure to make pension payments to an overseas bank account |
| Increases in your pension |
| Pension Increase |
| Detailed information about how your pension increases each year and why. |
| Guaranteed Minimum Payment (GMP) |
| Information on how this is calculated and how it is increased at State pension age |
| Changes to your situation you need to contact the fund about |
| Re-employment and how returning to work will effect your pension |
| Changing your Bank or Building Society details |
| Changing your permanent address |
| Death in Retirement |
| Outlining the benefits which could be received if you die in retirement |
Benefits payable at retirement
| 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] |
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| 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 Avon Pension Fund. |
| 11/05/2009 |
