Pensions Increase, Paydays and Pensioner News
The following section provides key news topics relevant for pensioners.
National Fraud Initiative
As part of the Governments' National Fraud Initiative we are required to inform you of any additional information we may need in order to administer your records.
Please note that key payroll data and personal identifiers such as contact details may be provided to bodies responsible for auditing, administering public funds or where undertaking a public function for the purposes of preventing and detecting fraud. For more details click here, or contact Greg Smith, Group Company Secretary on 0207 369 6000.
Year in Review (Summary Annual Report) 2014-15
Pension Pay Days 2016-17
Pension Pay Days 2016-17 - This document outlines the dates in which pensioners will receive their payment from April 2016 to March 2017
The National Fraud Initiative (NFI)
The LPFA participates in the Audit Commission's National Fraud Initiative (NFI), an exercise that matches electronic data within and between public and private sector bodies to prevent and detect fraud.
For this initiative, we are providing details of pensioners to other bodies responsible for auditing or administering public funds. This will ensure, for example, that no pensions are being paid to persons who are deceased or no longer entitled, and that occupational pension income is being declared when housing benefit is applied for. These exercises help promote the best use of public funds.
The use of data for NFI purposes continues to be controlled to ensure compliance with data protection and human rights legislation. A revised Code of data matching practice was published and laid before Parliament on 21 July 2008.
For more information please visit the Audit Commission website
Pensions Increase 2016
As you will be aware Local Government pensions are reviewed each April based on the Consumer Price Index the previous September.
It has been confirmed that the Consumer Price Index figure for 2016 is -0.1%, however the pension adjustment for inflation cannot be a negative therefore pensions increase will be set at 0%. This means that there will be no change to your pension from April 2016.
For the vast majority of pensioners this year’s increase will be zero. For a small number of members who retired during the 2015/16 tax year a proportion of the negative increase could be applied to the Career Average element of your pension. If you are affected the average reduction is £0.01 a month and we will be contacting you separately.
LPFA Pensioner Newsletters
LGPS National Insurance Database
A data sharing project with other LGPS pension funds in England, Wales and Scotland has been undertaken in order to comply with legal requirements contained in the LGPS’s governing regulations.
Provisions contained in the LGPS Regulations 2013 mean that, if a member of the LGPS dies, it is necessary for the scheme’s administrators to know if the individual also had other periods of LGPS membership elsewhere in the country so that the right death benefits can be calculated and paid to the deceased member’s dependants.
LGPS National Insurance Database - Privacy Notice