Draft regulations on membership, contributions and benefits

A consultation is now being held as the draft regulations for the new Local Government Pension Scheme (LGPS) have now been published; these draft regulations are in line with anticipated new LGPS 2014 principles.

This consultation seeks responses from interested parties on the draft regulations for the new LGPS to come into force in April 2014. This consultation only covers the core elements of the new scheme, in particular, the provisions relating to membership, contributions and benefits. 

A second consultation exercise covering the remainder of the new scheme will follow shortly. 

The closing date for receipt of responses to the consultation is the 8^th February 2013. All interested parties are encouraged to respond.

LPFA will be submitting a response to the consultation in the New Year.

Consultation Document 

Pensions Update - April 2013

Content:

• Valuation Update;

• New Scheme;

• Annual Allowance and Lifetime Allowance and the associated flowchart;

• Automatic Enrolment;

• Managing our Pension Liabilities; 

• Pensions Administration Strategy;

• End of Year Returns; and

• Value of the Fund. 

Pensions Update - 31 March 2013

Content:

• New LGPS 2014;

• Automatic Enrolment;

• Technical Update;

• Triennial Valuation;

• Pensions Administration Strategy (PAS) - Consultation; and

• Value of the Fund.  

Pensions Update - 28 February 2013

Content:

• New LGPS 2014;

• Automatic Enrolment;

• Technical Update;

• Employer Valuation / End of Year Training;

• Thinking of Outsourcing?

• Pensions Administration Strategy (PAS) - Consultation; and

• Value of the Fund.  

Pensions Update - 31 January 2013

Content:

• New LGPS 2014;

• Automatic Enrolment;

• Technical Update;

• Board Member Update;

• March FRS17;

• Covenant Checks;

• Part-time Workers;

• Value of the Fund; and

• Cash Equivalent Transfers.