Annual Benefit Statements

Deferred Annual Benefit Statement 2018

Deferred Annual Benefit Statements were issued in July 2018.  If you hold a Deferred Benefit that was awarded before 31 March 2018 and have not received your Annual Benefit Statement, please contact pensions.enquries@staffordshire.gov.uk to query this. 

Please note, if you have not received your statement through the post, you can also access your Deferred Annual Benefit Statement using our Member Self Service (MSS) facility. 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.

If you left the Local Government Pension Scheme after 1 April 2018, you will not receive your first Statement until 2019.

Active Annual Benefit Statements 2018

Staffordshire Pension Fund will issue Annual Benefit Statements for Active members at the end of August 2018.  This page holds all further information referred to in the Notes to your Annual Benefit Statement 2018.

 

Deferred Annual Benefit Statement 2017

Deferred Annual Benefit Statements were issued in June 2017.  If you hold a Deferred Benefit that was awarded before 31 March 2017 and have not received your Annual Benefit Statement, please contact pensions.enquries@staffordshire.gov.uk to query this. 

 

Active Annual Benefit Statements 2017

Staffordshire Pension Fund issued Annual Benefit Statements for Active members at the end of August 2017.  This page holds all further information referred to in the Notes to your Annual Benefit Statement 2017.

 

Information relating to the notes accompanying your statement

Section 1 of Notes

Partnership Status

If your Partnership Status is showing as Married, but you are Single, or Divorced, there is no reason to call Staffordshire Pension Fund.  No amendments to partnership status can be taken over the phone to let us know that these details need changing.  Your partnership status will have no effect on any of the benefits shown on the statement.

Section of the Scheme

There are two Sections of the scheme - the Main Section and the 50/50 Section.  For more information about the Sections of the scheme and details of how to change from one section to the other, please see our separate pages on Changing Sections of the Scheme.

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.

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 2015 to 31 August 2015.  She leaves on 31 December 2015.  Final Salary is calculated over the final 365 days of employment, in this case covering the period 1 January 2015 to 31 December 2015.  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 2015 to 31 May 2015

£24,000 x 151 / 365 = 9,928.77 

  • 1 September 2015 to 31 December 2015

£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 - 0.014% for each day worked beyond Normal Pension Age
  • Lump Sum - 0.007% 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 0.014% x 1095 = £153.30

Increased Final Salary Pension payable at age 68 = £1,153.30 

  • Final Salary Lump Sum = £500

Increase to Final Salary Lump Sum = £500 x 0.007% x 1095 = £38.33

Increased Final Salary Lump Sum payable at age 68 = £538.33

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.