Your reference :
Our reference : 8844/4
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Mr Andy Lankester |
DIRECT (GTN) | ||||||
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ODPM |
(020) 7211 2648 | ||||||
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Zone 2/E8 |
FAX (GTN) | ||||||
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Ashdown House |
(020) 7211 2630 | ||||||
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123 Victoria Street |
E MAIL | ||||||
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London SW1E 6DE |
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| 25 March 2003 | |||||||
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LOCAL GOVERNMENT PENSION SCHEME
REGULATION 156
TRIVIAL COMMUTATION FOR PENSION CREDIT MEMBERS
Dear Andy
Further to recent correspondence, with my colleague Peter Noonan, in relation to the above matter I have attached the latest GAD Guidance on the payment of lump sums to Pension Credit members representing the capital value of their pension.
As you can see from the note I do not consider it necessary to issue a different set of tables and guidance in this case from those already issued in respect of Regulation 49 – which refers to the general application of Commutation in the LGPS. The guidance for Regulation 49 will be updated regularly in the usual fashion. If it is necessary to revise the guidance and/or factors then these should automatically be applied for Regulation 156.
I trust this is satisfactory, but I would be happy to answer any queries you, or any of the employers, might have.
Yours sincerely
Noel Mulvihill
Actuary, Public Sector Pensions
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