Bedfordshire Pension Fund Website

Bedfordshire Pension Fund - trusted to help you make sense of it all.

Bedfordshire Pension Fund - News

This is the website for the Bedfordshire Pension Fund which provides information for past and present members of the Local Government Pension Scheme (LGPS) as well as LGPS employers in Bedfordshire.  This area will be regularly updated with the latest LGPS news.

 

New actuary for Bedfordshire Pension Fund

Each Local Government Pension Scheme fund appoints an actuary to undertake valuations of the fund and manage ongoing monitoring of funding levels and employer costs.  The actuarial contract has a significant role in the governance of Bedfordshire Pension Fund. 

The renewal of actuarial contracts is undertaken in line with EU Procurement Directives.   Public sector procurement is subject to a legal framework which encourages free and open competition and value for money, with an emphasis on key principles such as equality of treatment and transparency.   Having recently carried out the procurement process, Bedfordshire Pension Fund has appointed Barnett Waddingham as the fund’s actuary, effective from  1st September 2018.

The Fund would like to thank its outgoing actuary, Hymans Robertson, for all its valued work over the past 15 years.

 

Newsletter for contributing members

Pension Update for Active Members July 2018 (PDF 698KB)

 

Consultation on Public Sector Exit Payment Cap

Central Government is considering introducing a cap on the value of payments that can be made as a result of an employment ending on redundancy grounds.   Included in the cap may be the redundancy payment, pay in lieu of notice and the cost to the employer of releasing the pension benefits (called actuarial strain or capital cost).

We are still awaiting more details, and are unsure exactly how this will impact on any exit payments and what the effective date will be.  More information will be provided when available.