Pensions Fund Annual Report 2011-12 , item 18. PDF 4 MB

F u n d m e m b e r s h i p
Communications
The fund publishes its Communications Policy
on its website www.staffspf.org.uk.
The fund believes that clear and meaningful
communication with members and employers
is vital and it uses various media to achieve
effective communication including newsletters
for members and a separate newsletter for
pensioners.
nest egg inContact
A Newsletter for retired members of the Local Government Pension Scheme participating the Staffordshire Pension Fund
December 2011 – Issue 7
A newsletter for members of the Local Government Pension
Scheme participating in the Staffordshire Pension Fund
Latest News on Pension Reform
The story so far…
Since the last edition of Nest Whatever changes do eventually occur, it should
Egg, public sector pensions be remembered that the LGPS will still provide an
have remained headline news. excellent range of benefits to its members. We explain
The Government and various these benefits inside this edition of Nest Egg and
public sector unions have been
the consequences of what you could lose if you are
in discussion regarding the
considering opting out.
future for a number of public
sector schemes. This edition Your Annual Benefit Statement for 2011 provides
of nest egg provides more details of the estimated value of your LGPS benefits as at
detail regarding the Local 31 March 2011 and it is worth remembering that despite
Government Pension Scheme (LGPS) and aims to clarify any future change, the basis upon which these have built
the headlines and present them as more meaningful facts up will not be affected.
for members of the scheme.
In brief, the Government has adopted a 2 step approach
to reform. The first step which forms the basis of the
current consultation can be viewed on our pension
website. The key proposals are:
Janet Caiazzo
• an increase in employee contributions from April 2012
Pensions Manager
• reduced future benefits from April 2013/2014
• linking the scheme retirement age to state
retirement age
The second step would see the introduction of a new
In this issue
scheme by 2015.
Pension Reform – the story so far___________ 1
An alternative solution may be to roll all the changes into
Pension Reform – reason for change_________ 2
one; this is currently being considered at a national level.
Pension Reform – how may it affect me? __ 3 & 4
Spring 2012
The details in this Nest Egg are current as at date of
going to press and could be subject to change. Pension Pension Reform – CARE scheme proposal__ 4 & 5
In this issue
Services are committed to informing its LGPS members Frequently asked questions_____________ 6 & 7
of any further developments relating to Pension Reform
• Pensions Increase for 2012
How to keep up with what’s happening_______ 8
as they happen. We have started issuing a series of
information bulletins on the subject, which can be found
on the ‘What’s New’ page of our website:
www.staffspf.org.uk .
The fund offers to hold pension surgeries
for members of all employers, normally at
their sites. During the calendar year 2011,
approximately 350 members were seen on an
In addition, employers receive regular updates
individual basis. These members were asked to
to keep them informed of all changes that
complete satisfaction questionnaires rating the
affect them. The fund’s objective is to provide
adequacy of the fund’s response, the helpfulness
information electronically where appropriate.
of the fund’s staff, the suitability of the location
The fund is currently developing a strategy to
and the privacy afforded them. The results the
increase its use of electronic delivery of generic
fund received from these questionnaires were
information such as member and employer
very positive.
newsletters. It is accepted that a significant
Annual Benefit Statements are an important
number of the fund’s members do not have
tool in communicating with
email access at their workplace and they can
both active and deferred
opt to continue to receive information in a
members of the scheme. The
printed format. Despite this, significant future
statements provide valuable
savings are expected in reduced printing and
information that assists
costs.DRAFT
postage costs.
members in understanding
The fund has had its own dedicated pension
just how their benefits are
website for over ten years and this is now a calculated and whether
major source of information for members and or not they need
employers. The site has separate sections for to make any further
each category of membership and also one for financial provision for
employers.
themselves in the future.
The website received an increased number
of ‘hits’ this year demonstrating an increased
interest in pensions following media coverage
of the Hutton Review of public sector pensions,
which has significantly highlighted the profile of
pensions.
DRAFT
24
A re-design will be
taking place of the
statements due to be
issued in 2013 which
should make them even
clearer to understand.
Dear
I am pleased to be sending you your latest annual
benefit statement which provides details of the
benefits arising from your membership of the Local
Government Pension Scheme (LGPS).
The Local Government Employers and the Unions
issued a joint Statement on 31st May 2012 outlining
the main design features of the new 2014 LGPS,
You should by now have received our newsletter
explaining the changes and timescales which the
government is working towards for implementing
the new Scheme. More newsletters are planned
together with road shows on the run up to 1st April
2014 to help members with the transition to the new
Scheme.
Pension Services welcome any comments or
suggestions you may have in respect to this statement
or any other aspects of your pension benefits.
The notes included in the statement should provide
you with an explanation of the details quoted but if
you still require assistance please get in touch. Our
contact details are provided on the back page.
Yours sincerely
Janet Caiazzo
Pensions Manager
Contact Details for Pension Services:
Wedgwood Building
Tipping Street
Stafford
ST16 2DH
Email: pensions.enquiries@staffordshire.gov.uk
Telephone: 01785 278222
Web: www.staffspf.org.uk
Dear
I am pleased to provide you with your annual deferred
benefit statement from the Staffordshire Pension Fund,
at April 2012.
The benefits shown overleaf will be paid to you in
addition to your state pension and any other benefits
you hold in this or other pension schemes.
Information on your state pension scheme benefits can
be found at: www.direct.gov.uk
Information on Additional Voluntary Contributions
(AVC) is not included; if you have investments in any
of the fund’s AVC plans you will receive a separate
annual statement from your chosen provider(s).
Pension Services would welcome any comments or
suggestions you may have in respect of this statement
or any other aspect of your pension benefits. For further
information on the LGPS please visit the Staffordshire
Pension Fund Website:
www.staffspf.org.uk
Yours sincerely
Janet Caiazzo
Pensions Manager
Contact Details for Pension Services:
Wedgwood Building
Tipping Street
Stafford
ST16 2DH
Email: pensions.enquiries@staffordshire.gov.uk
Telephone: 01785278222
Web: www.staffspf.org.uk
Annual Benefit
Statement
Deferred Members
2012
Annual Benefit
Statement 2012