Pension Scheme update

09 January 2009

Local Government Pension Scheme (LGPS)

Did you know that you can:

• Nominate a co-habiting unmarried partner to receive a pension in the event of your death
• Transfer in benefits from previous pension schemes within the 1st year of joining the Scheme
• Increase your benefits by:
• Paying Additional Regular Contributions (ARCs) to buy extra LGPS pension
• Contributing to the Scheme's In-house Additional Voluntary Contributions (AVC) arrangement
• Request to take flexible retirement from age 55 (50 if you joined the LGPS before 1 April 2008 and you take flexible retirement before 1 April 2010) if you reduce your hours or move to a less senior position. Flexible retirement is drawing pension benefits whilst continuing in employment.
• Access your pension forecast online by registering to use the 'My Pension Online' facility via the Merseyside Pension Fund website at http://www.merseysidepensionfund.org.uk/
• The website is also a useful source for:
• Downloading information e.g. scheme leaflets and forms
• Viewing newsletters/updates about the scheme and wider pension matters
• Updating your address

Teachers' Pension Scheme (TPS)

Did you know that you can:

• Nominate an unmarried co-habiting partner to receive a pension in the event of your death
• Transfer in benefits from previous pension schemes within the 1st year of joining the Scheme
• Increase your benefits by:
• Purchasing Additional Pension within the main scheme
• Contributing to the Teachers' Additional Voluntary Contribution (AVC) arrangement
• Request to take phased retirement from age 55 (drawing part of your benefits while continuing in service) if you reduce your hours or move to a less senior position
• Access your individual pension forecast by using the 'My Pension online' facility via the Teachers' Pensions website at http://www.teacherspensions.co.uk/
• The website is also a useful source for:
• Downloading information e.g. fact sheets, leaflets and forms
• Viewing news updates about the scheme and wider pension matters
• Accessing the calculator tools to help you plan for retirement and assess the costs for increasing benefits
• Changing your personal details
• Submitting death grant / unmarried co-habiting partners nominations 

Further details and information can be accessed via the websites or from the Pensions Liaison Officer, Jayne Brown, on ext: 3401/3398.