Local Government Pension Scheme
Your first point of contact for pension queries is Jayne Brown, Pensions Manager. To contact the pension scheme administrators directly, the contact details are:
Merseyside Pension Fund
43 Castle Street
Telephone: 0151 242 1391
Details of the features of your pension can be found in the information pack sent out with your initial contract of employment and at staff induction. You could also visit the Merseyside Pension Fund website for the latest available information.
However, key benefits are:
Membership up to 31 March 08:
TOTAL MEMBERSHIP / 80 x FINAL PAY = ANNUAL PENSION
ANNUAL PENSION x 3 = AUTOMATIC LUMP SUM
Membership from 1 April 2008:
TOTAL MEMBERSHIP / 60 x FINAL PAY = ANNUAL PENSION
NO AUTOMATIC LUMP SUM
• Pension is index linked from the date of retirement, with no limit on the index linking.
• It is possible at retirement to convert pension into extra lump sum.
• Tiered ill health retirement package which could give you increased benefits, paid straight away, if you are unlikely to be capable of gainful employment within 3 years after you leave.
• Pension paid to spouse, civil partner, nominated cohabitating partner and children if death in service.
• Lump sum paid, if death in service of 3 times salary.
• Opportunity to purchase Additional Pension to increase pension at retirement.
• Opportunity to pay Additional Voluntary Contributions to secure additional income on retirement.
• Opportunity to purchase Additional Life Cover.
For more information speak to Jayne Brown, Pensions Manager on Ext: 8756
Local Government Pension Regulations 2008 - List of discretions:
Local Government Pension Scheme- Statement of Policy concerning discretionary fuctions