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The London Pension Fund unlike some other local authority pension funds you may have heard mentioned in news reports or read about in the press did not have any assets involved in the emerging £10b fraud by New York financier Bernard Madoff.
The breaking story of £100m overpayments of public sector pensions is limited to previous central not local government employees. The affected pensions were paid by Xafinity Paymaster and although overpayments will not be 'clawed' back many will see a reduction in their pension from next April.
Read our "Is my pension safe" bulletin (PDF 145KB - opens new window) on how the credit crunch affects your pension.
On the 3rd September in Westminster at the Church House Conference Centre the Annual Fund Member forum 2008 took place. In the 1939 Grade II listed Assembly Hall members filled its seats to the peak. More information can be found in the 2008 forum newsletter (PDF 293KB - opens new window).
The primary legislation governing the new look lgps, effective from 1 April 2008 is now in place, though a number of final amendments are yet to go before Parliament, in particular the planned provisions for the third tier of ill-health award. Watch this space for the latest developments.
The new Scheme introduces the provision for a dependant’s pension to be paid to a nominated, co-habiting partner. This option applies only to those who are or were active members of the LGPS on or after 1 April 2008 and is not available to deferred or pensioner members who left before that date. Such a pension would be based on your membership after 05/04/1988 and would be payable following your death to someone that you have nominated. To create a nomination, a written declaration signed by both the nominator and the nominee must be sent to the Administering Authority which states that for a period of at least two years, the following criteria have been met:
You can download a nomination form for cohabiting partners (PDF 49KB - opens new window)
The pay dates for pensions are available for the period April 2009 to March 2010.
View pension paydays (PDF 134KB - opens new window).
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