Updated 02/08/07
Annual Benefits Statements 2007 (Scroll down for sample benefit statements)
Have we got it right?
We hope that you find the information in this years statement useful
and informative.
However, we would ask that you carefully check the details
contained in the statement.
If it appears that information within the statement
is incorrect, please use the form enclosed to notify us of any changes.
You are
reminded that this statement is an illustration of the values/benefits provided
by the Local Government Pension Scheme (LGPS). If you do not agree with your
"Pensionable Pay Figure" or the "Hours Worked" that are shown please contact your employer
direct, if necessary your employer will arrange for us to be given amended
information, if the information we hold is incorrect.
Mike Woodall >>>
Chief Pensions Officer
The 2007 Annual Benefit Statement consists of the items shown below:
- Annual Statement
- Update/Nomination Form/Frequently Asked Questions (FAQs)
- Pensions Update
- Business Reply Envelope (BRE)
- Outer Envelope
- Great News For Additional Voluntary Contributions (AVCs)
Not received your Statement?
Statements will be posted on the
6 September (they will be sent
via UK Mail and should be received no later than 10 September.)
If you wish to contact us in respect of an Annual
Benefits Statement please do so
using the email address provided here:
PensionFundEnquiries@wolverhampton.gov.uk
Worried that you may
not have told us about a
change of address >>>
Statements have been sent to the last known home
address held by the Fund, if you have previously informed your employer of a
change of address, this may not have been passed on to the Fund.
If you would like to see examples of the Annual Benefit Statement 2007 see the links provided below.
Annual Statement
To see a blank Annual Benefits Statement 2007 click here >>>
Update /Nomination Form/Frequently Asked Questions FAQs
A
blank Nomination Form is also available online.
Please ensure you have read the notes that accompany this form, prior to completing
the downloadable version of the "Nomination Form" for scheme members to complete >>>
To see the Prudential update click here >>>
AVCs
This statement does not include any values of any AVC policy you may have.
For
values of any AVC policy you should contact the provider direct.
You can also top up your pension by
making flexible tax free payments into a Prudential AVC (Additional Voluntary
Contribution) or TUC Stakeholder Pension Plan.
To find out more about AVC's, look out for your invitation to attend one of our pension presentations being held soon, if you would like details of presentations or if you know a group of colleagues that would like a presentation contact the AVC provider here: email the Client Communications Team
In the meantime should you have any immediate questions on AVC's call
Prudential on
0845 607 0077 or log
onto:
http://www.pru-localgov.co.uk/content/schemes/localgovavc/westmidlands/
The
Prudential Pensions Connection call centre,
0845 607 0077 is open from 8am-9pm Monday to Friday
and 8am-1pm on Saturday.
Calls may be
recorded or monitored to improve the service.
Want to know more about AVCs? then view the online presentation here >>>
Information about buying additional scheme membership >>> & Information about Additional Voluntary Contributions AVC's >>>
"Pensions Update"
Combined Benefit Statements
Combined Benefits
Statements ~ The Fund's Intentions >>>
About Your Statement ~ Notes You Should Read!
If you do not agree with your
"Pensionable Pay Figure" or the "Hours Worked" that are shown please contact your employer
direct,
if necessary your employer will arrange for us to be given amended
information, if the information we hold is incorrect.
Annual Benefits Statements have been prepared and will be despatched on 6 September 2007.
Pensionable Pay
Your employer provides us with an annual update of your Pensionable pay as at 31
March each year. For illustration purposes only, we have added to the figure
supplied by your employer to reflect the 2007 pay award (this does not apply to
members of the PTA Fund). For simplicity, the figure has been rounded down to
the nearest £100. Remember, Pensionable pay is the pay on which Scheme
contributions have been made. This may mean that it is slightly lower than your
current annual rate of pay. If you are a part-time employee, your benefits are
calculated on full-time pay and the figure shown should be
higher than the pay you actually receive.
If you do not agree with your
Pensionable pay figure please contact your employer.
Membership
Your total period of membership is used in the calculation of your benefits. All
periods of membership include any membership credited following the receipt of a
transfer value payment from another fund or scheme, and any additional
membership purchased. If you work part-time the total length of each period of
membership is first worked out. This is then converted into a fraction, or
percentage (full-time equivalent), by comparing the hours you work to the normal
hours of someone who works full-time in the same job.
Benefits
At retirement you will receive an Annual Pension and a one-off tax-free lump-sum
Retirement Grant. The figures shown are worked out as follows:
Annual Pension 1/80 x Final Pensionable Pay x Total Membership
Retirement Grant 3/80 x Final Pensionable Pay x Total Membership
Death Benefits
A lump-sum of twice your Pensionable pay is payable should you die during active
membership. If you work part-time your actual Pensionable pay is used in the
calculation, or, if it would give a higher amount, a payment equal to any
Retirement Grant due to you would be made. We decide who to pay this amount to,
but we will always take your wishes into account. To help us do this you can
nominate to whom you want the benefit to be paid.
How to build bigger benefits
If you wish, you can pay extra contributions. You may
buy additional Scheme
membership, provided you cannot attain 40 years’ membership by your normal
retirement date - contact us for details ~
PensionFundEnquiries@wolverhampton.gov.uk
How To Contact The Fund:
Write to us at:
West Midlands Pension Fund
PO Box 3948
WOLVERHAMPTON
WV1 1XP
Phone us on:
0845 230 1665Fax us on:
0845 230 1565E-mail us: If you have an enquiry send us an email, you will need to provide the following information in order that your enquiry may be dealt with.
| Full Name: |
| Membership No: |
| Home Address: |
| Employer Name: |
| Employer Pay No: |
| Details of your enquiry: |
Minicom: 01902 554607 (Typetalk facilities)
Annual Benefit Statements are issued to members
home addresses, where held, if you have moved recently or if you think that we
may not have your correct home address, you may not receive your statement.~
Changed
your address don't forget to tell us!
Don't forget to view our Annual Benefits Statement FAQ's as any questions you may have, may have already been answered!
A list of useful links concerning Annual Benefits Statements include:
Need to get in touch with us? >>>
Need to send the Fund an email >>> E-mail us: If you have an enquiry send us an email, you will need to provide the following information in order that your enquiry may be dealt with.
| Full Name: | Membership No: (8 Digits long and begins 10) |
Home Address: |
| Employer Name: | Employer Pay No: | Details of your enquiry: |
Changed
your address don't forget to tell us! >>>
Your employer may not automatically
inform us of a change of address.
Want to know more about increasing
your benefits.... or want to now about the forthcoming workshops held
in association with your employer and the Fund
email
Prudential to check
on forthcoming AVC workshops >>>
Additional Information Available from the Fund >>>
Want
to transfer
previous pension rights into the LGPS? Click here for The form you need (includes an
explanation of the procedure) >>>
If you have been a member of the
Fund for more than 12 Months you may wish to check with your employer in
relation to their policy on such transfers.
Combined
Benefits Statements ~ The Fund's Intentions >>>
It is the Fund ’s intention to move towards the production of a
Combined Benefits Statement.
This will mean we will be able to provide you with comprehensive details of the
pension benefits that you are due to receive from the LGPS and State scheme at
retirement. However, before we can apply to the Department for Work and Pensions
(DWP) for this information, we have to ensure that members are aware that it is
our intention to do so.
Email us about your Annual Benefit Statement
Don't forget to view our Annual Benefits Statement FAQ's as any questions you may have, may have already been answered!
The Fund's Communication Policy Statement
Contacting the Fund ~ by letter, fax, telephone or email ~ How Can We Help?
A-Z of Site Content At Your Service Fund Publications
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the compilation of this information and every attempt made to present up-to-date
and accurate information, we cannot guarantee that inaccuracies will not occur.
Wolverhampton Council will not be held responsible for any loss, damage or
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Links from this
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Copyright © Wolverhampton CC 2007.
