News and Updates
|24 May - Timeline version of Investment Regulations 2016 issued A timeline version of the LGPS (Management and Investment of Funds) Regulations 2016 (SI2016/946) is now available from the Investment Regulations 2016 homepage.|
|24 May - Updates to Timeline 2013 Regulations The timeline LGPS Regulations 2013 have now been amended to reflect minor changes made by a number of statutory instruments issued in 2016.|
Clean and tracked versions of the updated Regulations are available from the LGPS Regulations 2013 homepage.
|08 May - Updated trivial commutation guide issued Version 1.7 of the LGPC guide to trivial commutation for LGPC administrators has now been issued and is available on our Guides and sample documents page.|
|20 April - Transfer discharge forms updated The transfer discharge forms have been updated. Clean and tracked versions are available (version 4.0).|
|20 April - Scheme administrator factsheet published on the overseas transfer charge A scheme administrator factsheet has been published on the overseas transfers charge that can apply to QROPS transfers from 9 March 2017.|
|12 April - Information document on the LGPS and academies published In conjunction with the Department for Communities and Local Government and the Department for Education, the Local Government Association has today published “Local Government Pension Scheme – arrangements for academies”. This is intended for schools considering conversion to academy status, academy trusts, multi-academy trusts and administering authorities.|
Contents of the paper include guidance for academy trusts on preparing to be an LGPS employer; their role and responsibilities post conversion; the position of multi-academy trusts in the scheme; pooling arrangements; understanding scheme deficits; outsourcing services; the Department for Education guarantee and academy re-brokerage.
Although the advice given in the paper is intended to have wide application across the 79 LGPS funds in England, some variation in policy and approach across all the funds and their advisers is inevitable. Schools engaged in conversion are therefore encouraged to contact their local fund as early as possible in the process and seek assistance from independent professional advisors retained by them for the purpose.
The document can be found on our Other Government documents.
|04 April - Employee guides and factsheets updated The employee guides and factsheets (LTA and AA) have been updated for the new financial year|
|28 March - March 2017 bulletin published The LGPC's March 2017 bulletin (no. 156) has been published containing a number of general items of information.|
The bulletin is available on our LGPC Bulletins page.
|28 March - 2017 conference now open for booking The LGPC's trustees' conference, taking place this year in Bournemouth on 29-30 June 2017, is now open for bookings.|
Full details are available in circular 303 and in the conference flyer.
To book, visit the LGA Events website.
|23 March - New transfer factors published by DCLG New individual incoming and outgoing transfer factors have been published by DCLG. The publication follows the issue of the new Club memorandum by the Cabinet Office in February 2017.|
The new factors can be found on our Actuarial guidance page.
|22 March - LGPC annual update bulletin 2017 published LGPC bulletin no. 155 containing the annual update for 2017 has now been published.|
The bulletin can be found on our LGPC Bulletins page.
|21 March - Updates to the underpin guide An updated version of the LGPC's technical guide to the underpin has now been issued (version 1.7).|
The updated version is available on our Guides and sample documents page.
|21 March - 2017 annual update SIs published The 2017 'annual update' statutory instruments, meaning those SIs which amends rates and bands applicable from April 2017 for various purposes, have now been published by the Government and are available on the Related legislation page.|
The accompanying annual update bulletin is due to be published shortly.
|01 March - LGPC bulletin no. 154 published The February 2017 bulletin (no. 154) has now been published and is available on our LGPC Bulletins page.|
|27 February - Updated annual allowance guide published Minor amendments have been made to the annual allowance guide which has now been published as version 3.2 and is available on our Guides and sample documents page:|
- An update has been made to footnote 81 in paragraph 68
- Paragraph 71 and example 48 have been updated to correct an error in the revaluation rate added to the Opening Value
|24 February - DCLG publish new actuarial guidance on conversion of accumulated AVCs DCLG have publised new actuarial guidance on the conversion of accumulated AVCs to transfer credits under regulation 66(8) of the LGPS Regulations 1997.|
The new guidance can be found on our Actuarial Guidance page.
|22 February - Minutes of January 2017 LGPC meeting published The minutes of the 23 January 2017 meeting of the Local Government Pensions Committee have now been published on our LGPC minutes page.|
|20 February - Updates to ABS template and councillor full guide Version 1.3 of the LGPS ABS template has now been published along with version 1.5 of the full guide for councillors. Both documents are available on our Guides and sample documents page.|
|20 February - LGA submits response to GMP consultation The LGA have submitted its response to the HM Treasury consultation on the indexation and equalisation of GMP in public service pension schemes (Gov.uk). The response is available on our Non-scheme consultations page.|
|13 February - New factsheet on topping up state pension published Following discussions held at the communications working group in late 2016, the LGPC Secretariat have published a short factsheet for members on the options available for topping up their state pension.|
The leaflet’s content has been checked by DWP’s policy team and can be found on our Guides and sample documents page.
As mentioned in bulletin 150 topping up the State Pension may be particularly appealing to former public sector workers who have:
a) Retired, and
b) Not yet reached SPA (or have reached their SPA since 6 April 2016).
|10 February - Updates to annual allowance, 85 year rule and ABS technical guides Version 3.1 of the annual allowance guide has been published incorporating the below main changes:|
Paragraph 34: AVCs for life assurance are NOT to be included in the Closing Value
Paragraph 71: The effect of a scheme pays election
Paragraph 68 (and footnote 81) and paragraphs 163, 179, 180, 181, 182, 202, 218 and 223: Treatment of Voluntary Scheme Pays requests
Paragraph 173 (and footnote 141 on pages 158/159): Treatment of reportable events 22 and 23
Annex 1: a new definition has been added to the Glossary to explain what is meant by the references in the guide to ‘Standard’ annual allowance
Annex 3: Example 39 has been substantially updated
Annex 3: New examples 47 to 57 have been added to explain the effect on the annual allowance calculation of Club transfers. Note that examples 48, 50, 52, 53, 54, 55A, 55B, 56A and 56B represent the LGPC Secretariat’s view on how the cases in those examples should be valued for annual allowance purposes. However, although we feel reasonably confident that the examples are correct, the Secretariat is checking with the Cabinet Office, GAD and the Public Sector Pensions Forum to see whether or not they agree with the calculations. Confirmation, either way, will be provided to administering authorities as soon as a response has been received.
Minor updates have also been made to both the 85 year rule technical guide (now issued as version 1.11) and the ABS technical guide (now issued as version 1.11).
The updated documents can be found as tracked and clean versions on our Guides and sample documents page.
|10 February - Cabinet Office update public sector transfer club memorandum The Cabinet Office have issued an updated version of the public sector transfer club memorandum along with an updated list of the schemes participating in the club. The updated memorandum is effective from 1 March 2017.|
The updated documents are available on the Civil Service Pensions website as well as under other Government documentson this website.
The main changes to both documents are shown in red.
|01 February - Bulletin 153 published The January 2017 LGPC bulletin has now been published and is available on our LGPC bulletins page.|