Annual Benefit Statements

Deferred Annual Benefit Statement 2019

Deferred Annual Benefit Statements will be issued in June 2019.  If you hold a Deferred Benefit that was awarded before 31 March 2019 and do not receive your Annual Benefit Statement, it can be viewed online in the Member Self Service (MSS) area of our website.

If you are not currently registered to use MSS, please return to the Home page and follow the 'New user' link under 'Self Service Calculator', to apply for an activation key,  or follow the link below.

Register to use Member Self Service

If you left the Local Government Pension Scheme after 1 April 2019, you will not receive your first Statement until 2020.

Please note from 2020, as part of our move to more digital communication it is our intention to stop posting out paper statements. They will only be available to view online unless to make a request in writing to continue to receive paper communication.

Active Annual Benefit Statements 2019

Staffordshire Pension Fund will issue Annual Benefit Statements for Active members at the end of August 2019.  This page will hold a set of notes to accompany the Statement.

Please note from 2020, as part of our move to more digital communication it is our intention to stop posting out paper statements. They will only be available to view online unless to make a request in writing to continue to receive paper communication. 

Information relating to the notes accompanying your statement

Section 1 of Notes

There are no references to further information in this section.

Section 2 of Notes 

Reduction Factors

Please find below a set of notes regarding the Rule of 85.  These notes show the reduction factors that would apply to a pension if it were brought into payment on voluntary grounds before Normal Pension Age and gives worked examples.

Please remember the figures quoted in Section 2, represent the value of your benefits built up in the Local Government Pension Scheme, up until 31 March, but not payable until your Normal Pension Age.

PDF Document Rule of 85 Notes (128KB)

Section 3 of Notes

CARE Pay and Absence

If you have any period of unpaid authorised absence within a scheme year, your pension is calculated on the pay you do receive (with Assumed Pensionable Pay being added in for any period of reduced pay you receive). You can make up this "lost pension" by paying Additional Pension Contributions.  More information on this is available on the Absence page of the website.

Final Salary and Absence

If you have membership of the scheme before 31 March 2014 and take a period of authorised unpaid absence in the final 365 days of your employment,then an adjustment is made to the calculation of your Final Salary.

Example:

Mrs A is on unpaid Maternity Absence for the period 1 June 2018 to 31 August 2018.  She leaves on 31 December 2018.  Final Salary is calculated over the final 365 days of employment, in this case covering the period 1 January 2018 to 31 December 2018.  Within that period she has 92 days unpaid absence, which means she has been paid for 273 days.  Her Final Pay is therefore calculated as follows:

  • 1 January 2018 to 31 May 2018

£24,000 x 151 / 365 = 9,928.77 

  • 1 September 2018 to 31 December 2018

£24,000 x 122 / 365 = 8,021.92

Total = 9,928.77 + 8,021.92 = 17,950.69

Adjustment = 17,950.69 / 273 x 365 = £24,000.00

Final Salary = £24,000

Final Salary is always calculated using a member's Whole Time Equivalent Rate of Pay, even if they only work 1 hour per week.

Section 4 of the Notes

There are no references to further information in this section.

Section 5 of the Notes

Death Benefits

Please find a set of notes below detailing what benefits are payable in the event of death.  This covers Survivor Benefits and Death Grants.

PDF Document What is Payable in the Event of my Death notes (375KB)

You can also complete a form to nominate a Cohabiting Partner, or to nominate a recipient for any Lump Sum Death Grant.

Section 6 of the Notes

Normal Pension Age and State Pension Age

Normal Pension Age within the Local Government Pension Scheme is the later of age 65 or your State Pension Age. A document showing the changes to State Pension Age can be found below:

PDF Document State Pension Age notes (97KB)

Actuarial Increase for Late Retirement

If you retire after Normal Pension Age, your pension and automatic lump sum (for membership before 31 March 2008) will be increased.  The increase factors are set out by the Government Actuary's Department and are currently:

  • Pension - 0.01% for each day worked beyond Normal Pension Age
  • Lump Sum - 0.001% for each day worked beyond Normal Pension Age.

Example:

Mr B has a Normal Pension Age of 68.  He retires at age 68. On his retirement, his CARE Pension is paid without an Actuarial Reduction or Actuarial Increase as he is retiring on his Normal Pension Age.  However, his Final Salary Benefits have a Normal Pension Age of age 65.  These benefits are therefore increased as follows:

Age 65 to 68 = 3 years = 1095 days.

  • Final Salary Pension = £1,000

Increase to Final Salary Pension = £1,000 x 0.01% x 1095 = £109.50

Increased Final Salary Pension payable at age 68 = £1,109.50

  • Final Salary Lump Sum = £500

Increase to Final Salary Lump Sum = £500 x 0.001% x 1095 = £5.48

Increased Final Salary Lump Sum payable at age 68 = £505.48

Section 7 of the Notes

Lifetime Allowance

Please see our separate pages for information on the Lifetime Allowance

Annual Allowance

Please see our separate pages for information on the Annual Allowance.