Equitable Life Assurance Society announcement 08/2018
Equitable Life has now proposed to transfer the Society and all its polices to Reliance Life. In order to complete the transfer, they will need to consult with their Regulators, seek the opinion of an independent expert appointed specifically to look after policyholder’s interests, and obtain approval from the High Court.
Equitable Life expect this process to be completed towards the end of 2019 and the transfer of policies to Reliance Life would follow shortly afterwards.
There is nothing that policyholders need to do now, and Equitable Life will continue to service policies until the transfer. If the transfer is approved, the terms and conditions of unit-linked policies will be unchanged and they will be administered by Reliance Life.
In the meantime Equitable Life will continue to communicate directly with members.
Amendment Regulations 2018 *07/2018*
The Disclosure 2013 Regulations require that pension schemes inform all members and beneficiaries of the scheme, of any change to the scheme that results in a material change to the basic scheme information, as listed in Part 1 of Schedule 2 of those regulations. The basic scheme information is generally the information that would be included in the brief scheme guide.
Changes have been made to the Local Government Pension Scheme (LGPS). These changes came into effect from 14 May 2018 and are summarised in Pension Update - Summer2018 that will be posted to all active members with their annual benefit statement this year. A copy can also be accessed via the link below.
Whilst a significant number of changes were technical amendments to clarify wording and terminology of the original LGPS Regulations 2013, there are some fundamental changes which members need to be aware of.
All the changes that affected our deferred members were included in a newsletter issued with their benefit statements earlier in the year.
If you have any questions or concerns, you should contact the Staffordshire Pension Fund, directly.
Pension Update - Summer 2018 (583 KB)
General Data Protection Regulations (GDPR) *03/2018*
On 25 May 2018 a new EU directive comes into force that will replace and enhance the current data protection regulations.
Staffordshire Pension Fund use certain items of your personal data, provided by you or your employer, to administer the Fund and to calculate and provide you with benefits. These items are already protected under the current data protection regulations and will continue to be protected under the new regulations.
Further information about this new legislation can be found in the Question and Answer document, which can be accessed using the link below.
GDPR Q&A for LGPS Members (216 KB)