What's New

This page contains the latest news and documentation relating to the Local Government Pension Scheme including Fund information.

(Please Note: The following documents are provided in PDF format. Acrobat Reader software is required in order to read them.)

Change in annual revaluation / inflation proofing method - 28/06/2010

In his "emergency" budget statement on 22 June 2010 the Chancellor, George Osborne announced that in future annual increases for public sector pension schemes will be linked to the annual rise in the Consumer Price Index (CPI), rather than the Retail Price Index (RPI), which was used to calculate annual "Pensions Increase Orders" previously.

This change affects "deferred" benefits (pension and lump sum) as well as pensions currently in payment.  It will only apply going forward in time and does not alter the current value of any benefits you have already earned or are receiving.

The CPI index is based on a wider "basket" of goods and services but excludes changes in housing costs.  Over time the two indices will produce different results as can be seen in the graph below, which shows the relative differences since the CPI index was introduced.

RPI = Retail Prices Index

RPIX = RPI but excluding mortgage interest payments

CPI = Consumer Prices Index (the new measure)

We understand this change will apply from April 2011.  Current Staffordshire Pension Fund literature and articles on this web site refer to increases in line with the Retail Prices Index (RPI).  We are currently working to update all these references, unfortunately this may take a while to complete. In view of this for the time being please take any reference to RPI to mean CPI.

Statement of Investment Principles

   Staffordshire Local Government Pension Scheme - Statement of Investment Principles 2010  Draft April 2010 (408KB) New

Newsletter - pensioners

Latest edition issued in March 2010.

 In Contact - Issue 5

Newsletter - active members

Latest edition issued from December 2009. Includes FAQs relating to Annual Benefit Statements. 

 Nestegg Newsletter 5 

Service Standards

To see the updates listed below, select Service Standards.

Latest results relating to 2008/2009 are now available (July 2009)

Updated figures for Complaints, Compliments and Comments (July 2009)

New Scheme Booklet

 Pension Scheme Guide (based on 2008 Regs) (260KB) (Updated May 2009)

Standard Life Pension Sterling AVC Fund

If you have an Additional Voluntary Contribution fund (AVC) either wholly or partially invested with the Pension Sterling Fund route, please see the documents below for the latest information issued by Standard Life:

  Letter from Standard Life issued 19/02/2009  (20KB) (Updated Feb 2009)

  SL Pension Sterling Fund information guide     (65KB) (Updated Feb 2009)

 

Last Modified: 01/07/2010 14:40:43
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