The Local Government Pension Scheme is a tax approved, defined benefit occupational pension scheme. The benefits under the scheme are based on the length of your membership and your pay.
We have an award winning pension fund which has produced high performance over a consistent period.
The pension scheme features include:
a lump-sum cash payment if you die while in service
valuable pension benefits to your spouse, partner and children
a tiered ill-health retirement package
the opportunity to take your pension from the age of 55 – 75, although your pension may be reduced should you take your pension before your individual state pension age
an un-reduced pension from the age of 55 if you leave employment through redundancy or efficiency
the option to reduce contributions and benefits by 50% in the 50/50 scheme
the opportunity to buy up to £6,500 additional scheme pension
the option to make further additional contributions in to the Standard Life AVC
For more information visit the LGPS website.
Annual benefit statements 2015
Under the pension scheme regulations the 2015 annual benefit statement must be issued by 31 August 2015. This is an incredibly tight timescale and it is the first time this has been imposed on Administering Authorities.
Many pension funds nationally have raised concerns that they will not be able to meet this requirement. The Hounslow Pension Fund will be able to issue approximately 50% of statements by this date.
Pension scheme members who do not receive a statement will be issued with a pensions healthcheck letter in the interim. These members will be issued their statements in tranches as soon as possible after August, with the final statements expected to be issued by 30 November 2015.
The Hounslow Pension Fund appreciates your understanding regarding this matter.
Capita Employee Benefits provides the day-to-day administration of the scheme. They should be contacted for any administration queries in the first instance.
You should contact Capita, if you wish to opt out of the Local Government Pension Scheme. Opt out forms are not available from your employer.
Telephone: 020 8972 6050 or 020 8972 6051
The London Borough of Hounslow Pension Fund
Capita Employee Benefits
PO Box 195