News

The news area of the website will be regularly updated to inform you of any developments within the Local Government Pension Scheme (LGPS), see below for further information.

2019

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August 2019 - Your Annual Benefit Statement is on its way

If you are paying into the Local Government Pension Scheme (LGPS), you will receive an Annual Benefit Statement (ABS) from the Cornwall Pension Fund during August 2019.

It will show the pension you have built up to 31st March 2019 as well as a future projection of your benefits if you remain paying into the scheme to your Normal Pension Age (NPA). This is the age you would retire and take your benefits without any reduction to your pension.

The statements will be posted out to you in August 2019.

July 2019 - Government's request for an appeal denied (McCloud case)

The McCloud case concerns the transitional protections given to members of the Firefighters' Pension Scheme who in 2012 were within 10 years of their normal pension age. In December 2018 the Court of Appeal found that these protections were unlawful on the grounds of age discrimination and could not be justified.

On the 27th June 2019 the Supreme Court denied the Government's request for an appeal in the McCloud case in respect of age discrimination and pension protection.

The Chief Secretary to the Treasury on 15th July 2019 confirmed that the principles of the outcome would be accepted as applying to all public service schemes such as the Local Government Pension Scheme (LGPS).

The matter will now be referred back to the Employment Tribunal for a remedy hearing and could mean significant changes to the public service schemes.

April 2019 - Employee contribution rate bands

The pay bands which determine the contribution rate a member of the LGPS should pay from 1 April 2019 are now available. View our 'how much will I pay?' page to check yours.

March 2019 - Pension Increase

Pensioner members will see their pension increase by 2.4% in line with the Consumer Prices Index (CPI) from April 2019. View our "Will my pension increase?" page for more details.

January 2019 - Pensions cold-calling banned

From 9th January 2019, companies that make unwanted, unsolicited phone calls to people about their pensions may face enforcement action, including fines of up to half a million pounds. One of the most common methods used by scammers to commit pensions fraud is through cold calls, which is why the government has taken action.

The ban prohibits cold-calling in relation to pensions, except where:

  • the caller is authorised by the Financial Conduct Authority (FCA), or is the trustee or manager of an occupational or personal pension scheme, and
  • the recipient of the call consents to calls, or has an existing relationship with the caller

If you receive a cold call about your pension, get any information you can, such as the company name or phone number, and report it to the Information Commissioner’s Office via their website or on 0303 123 1113

January 2019 - Single Financial Guidance Body (SFBG)

The Pensions Advisory Service, Pension Wise and the Money Advice Service have been merged to form the Single Financial Guidance Body (SFBG). While the SFBG brings the three services together, they each continue to exist under their existing identities. The SFGB will be named over the course of the year.

Links to The Pensions Advisory Service, Pension Wise and the Money Advice Service are available on our useful links webpage.

October 2018 - Annual Report 2017-18

The Annual Report for 2017-18 is now available to be viewed.

June 2018 - Amendments to the Local Government Pension Scheme (LGPS)

Changes have been made to the Local Government Pension Scheme (LGPS) and they include changes to when you can take your deferred benefit, pre-2014 AVC contracts and an expansion of the underpin. Further details are available to view within the Amendments to Local Government Pension Scheme (LGPS) newsletter

April 2018 - General Data Protection Regulation (GDPR)

Data protection law is changing on 25 May 2018 with the introduction of the General Data Protection Regulation (GDPR). View our "General Data Protection Regulation (GDPR)" page for more information including a Q&A for Local Government Pension Scheme (LGPS) members.

2017

July 2017 - Options for Academies in the LGPS

The Scheme Advisory Board (SAB) requested a review of the current issues faced by the LGPS and associated stakeholders in relation to academies participating in the English LGPS Funds. This report by PWC, is now available to be viewed: Options for Academies in the LGPS

Our Jargon Buster may help with pensions terminology.