last updated 21/06/07

Your 2007 Deferred Benefits Statement

You’ll see that we have provided details of the changes that are due to be introduced from 1 April 2008. Although these changes will, in the majority, only be applicable to existing contributors of the Local Government Pension Scheme (LGPS), we are required under disclosure of information requirements to make you aware of the changes to the Scheme rules. As a deferred member of the LGPS, your benefits will remain unaltered. However, if you rejoin the LGPS at a later date (or have already rejoined, but elected to retain your benefits in respect of the membership shown on the enclosed statement separately), the scale of benefits, that will build up in any new period of LGPS membership, may differ to that previously attained. This is because the LGPS will accrue benefits on a 1/60th basis from 1 April 2008. If, at some point in the future, you wish to transfer your accrued benefits, if this transfer is into LGPS membership and started after this date, you should seek further clarification from the Fund to which you belong at that point. If you do not re-enter the LGPS and simply leave your benefits within the LGPS as they are currently, then the benefits will remain unaltered, but will continue to attract pension increases in line with the appropriate legislation.

As previously mentioned, details of the intended changes are enclosed, but these will not affect the value of benefits that you have already built up within the LGPS as a deferred member. As with any important document, we would suggest that you check the details we hold for you. If they do appear to be incorrect, please use the enclosed update form to tell us of any changes that may be required. You can also use this to tell us of any ‘changes of name’ that we may be unaware of – but remember to include the relevant original certificates when sending the form to us (certificates will be returned immediately after registration in our records).

Following the successful introduction of large sight text statements along with statements in Braille and other community languages, we’d like to remind you of the availability of this service. For further details, please contact us. As in previous years, we have included details in connection with combined benefit statements. If you are happy for the Fund to continue with the intended production of a combined statement, showing the benefits from the West Midlands Pension Fund, along with details of your State pension entitlement, you do not need to take any further action. However, if you would prefer us not to issue you with a combined statement, you should complete the relevant section of the enclosed update form and return it to us at the address indicated (those that have done so in previous years do not need to do so again). The ability to produce combined statements will be affected by The Pensions Bill currently going through Parliament. This will change the rules governing state pensions, including the qualifying conditions attached to them and the age from which state pensions are  payable. Once the bill receives Royal Assent, which it may do at the end of July (but it could be later than this – after the  summer parliamentary recess), the Pension Service will be unable to provide state pension forecasts until its IT systems have been reprogrammed to reflect the new legislation. As this process could take  the Pension Service around twelve months, it is not intended to produce combined statements until 2009 at the earliest.

Mike Woodall
Chief Pensions Officer

The Deferred Benefits Statement consists of the items shown below:

Statements will arrive to UK based addresses no later than Friday 20 July ~ overseas address may take an additional 7-10 working days.
If you wish to contact us in respect of a Benefits Statement please do so using the link provided here: PensionFundEnquiries@wolverhampton.gov.uk

Not received your statement?
Worried that you may not have told us a change of address >>> Statements have been sent to the last known home address held by the Fund, if you have previously informed your ex-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 Benefit Statement see the links provided below.

Annual Statement

To see a blank Deferred Benefits Statement click here >>>
A Nomination Form / 2006 Update Form

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 >>>

The nomination form is not valid unless it is received by the fund, you cannot complete the form and deposit it with friends, relatives or legal representatives. The form once completed MUST be returned to the Fund for it to be valid.

 
Combined Benefit Statements Combined Benefits Statements ~ The Fund's Intentions >>>
"Pensions Update"

A link to "pensions update" is provided below:


here for the West Midlands Pension Fund's pensions update >>> and


here for the PTA Pension Fund's update >>>
Business Reply Envelope (BRE) 2005 This is the envelope that will be enclosed in order for you to return any necessary items to the Fund.

About Your Statement ~ Notes You Should Read!

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

Normal Retirement Date
If you retire from age 60, but before age 65 and you have not reached your normal retirement age, your pension and retirement grant may be reduced.
Your Normal Retirement Date is your 65th birthday. However, if you were a member of the LGPS before 1st April 1998, this is the earlier of:

  • your 60th birthday if you have, or would have, accrued 25 years’ total membership by the day before that birthday, or
  • the day after the date between your 60th and 65th birthdays when you have, or would have, accrued 25 years’ total membership, or
  • your 65th birthday.
    •

    The 85 year rule
    If you joined the LGPS on or after 1/4/98 you may be able to retire from the age of 60 onwards if you satisfy the 85 year rule. Your benefits will not be reduced if, when you retire, your age (in whole years) and your total membership (in whole years) adds up to 85 or more.

    Working out your membership for the 85 year rule:

  • the number of years that you have been a LGPS member (with part-time employment counting at full calendar length) plus, for preserved benefits the period between the date of leaving and the date benefits are to be bought into payment, but excluding any membership in respect of which you are already in receipt of a Local Government pension or in respect of which you hold a Local Government preserved pension.
  • the number of years purchased by a transfer into the LGPS from a previous employer’s pension plan, a stakeholder pension scheme or a personal pension plan. any additional years of membership that you have bought or which have been granted to you by your employer.
  • any additional years of membership purchased by converting AVCs into a period of membership.
    •

    How To Contact The Fund:

    Write to us at:
    West Midlands Pension Fund
    PO Box 3948
    WOLVERHAMPTON
    WV1 1XP

    Phone us on: 0845 230 1665
    Extra lines have been set up to help us deal effectively with enquiries. However, if you don’t get through first time please try again later, or check the website for answers to your enquiries.

    Fax us on: 0845 230 1565

    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/Pension Reference No:
    Home Address:
    Ex-Employer Name:
    New Employer Details if a Local Government Employer:
    Details of Your Enquiry:

    Minicom: 01902 554607 (Typetalk facilities)


    Deferred 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 Deferred Benefits Statement FAQ's as any questions you may have, may have already been answered!

    Hot topics ~ A list of useful links concerning Benefits Statements

    Animated ButtonNeed to get in touch with us? >>>
    Animated Button    Changed your address don't forget to tell us! >>>
    Animated Button    Send the Fund an email >>>
     Animated ButtonNot completed a Nomination Form (want to download one? >>>
     Animated ButtonCombined Benefits Statements ~ The Fund's Intentions >>>

     

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