I haven't received a statement.  What should I do?

 

My personal details are incorrect.  What should I do?

 

I think my statement is incorrect.  What should I do?

 

How do I update my expression of wish details for the lump sum death grant?

 

How do I know how much my pension will be if I take it early?

 

I've been absent from work.  How is my pension affected?

 

What is final salary pensionable pay?

 

What is CARE pensionable pay?

 

What is membership?

 

I am paying additional contributions.  Is this shown on the statement?

 

Can I pay more to increase my pension benefits?

 

Will my co-habiting partner be eligible for a survivor's pension if I die?

 

What is the Annual Allowance?

 

 

I haven't received a statement.  What should I do?

The statements for the scheme year to 31 March 2023 were sent out towards the end of August 2023.

If you are currently paying into the Bedfordshire Pension Fund Local Government Pension Scheme and joined the scheme before 1 April 2023 then you should received a statement in August 2023.  Please contact us on 01234 276912 or at pensions@bedford.gov.uk if you do not receive a statement.  

If you need to tell us about a change of address, please change your details through My Pension Online or you can send us the new details in writing, either by letter or email.

 

 

My personal details are incorrect.  What should I do?

For us to be able to make changes to your personal information you will need to send us an email or write to us to let us know the correct details.  If your name has changed due to a change in marital or partnership status you can complete our Marital/Partnership Status form which can be found on our Forms for Members page, or you can let us know about the change by using the 'Contact Us' page on My Pension Online.

 

 

 

I think my statement is incorrect.  What should I do?

Most of the information that appears on your statement has been provided by your employer so your employer will need to give Bedfordshire Pension Fund the correct details before we can make any changes to your pension record.  If you don't know who to contact to get your details corrected, please email pensions@bedford.gov.uk with a brief explanation of which details are incorrect and we will let you know how to go about getting the details amended.  Please be patient in waiting for a response as we always receive a large number of queries when the annual benefit statements are sent out.

 

 

How do I update the expression of wish details for the lump sum death grant?

If you would like to name someone to receive the lump sum death grant in the event of your death, or you want to make changes to existing details, you can do this by logging on to My Pension Online.  If you don't want to make changes online, you will need to complete a lump sum death grant expression of wish form, which you can find on our Forms for Members page.  A signed copy of the form has to be sent to Bedfordshire Pension Fund so that we can update the details on your pension record. 

Your expression of wish is not legally binding and the final decision on payment is made by Bedfordshire Pension Fund.

 

 

How do I know how much my pension will be if I take it early?

If you are thinking of retiring and taking your benefits before your normal pension age, you can carry out your own early retirement calculations if you sign up to My Pension Online. You can also find more information about taking your pension early on the national LGPS member website's page about taking your pension. 

If you need a formal quotation of benefits, you can email or write to Bedfordshire Pension Fund to request an estimate of benefits that would be payable at a date before your normal pension age.  We expect a large number of estimate requests following the issue of benefit statements and priority will be given to members closest to retirement.  It is expected that it will take 15 working days to process an estimate request so we thank you for your patience at this busy time.

 

 

I've been absent from work.  How is my pension affected?

The national LGPS member website tells you how your LGPS pension is affected if you are away from work. 

 

 

What is final salary pensionable pay?

If you were a member of the LGPS before 1 April 2014 then you will have built up benefits in the final salary scheme.  The pay used to calculate benefits built up before 1 April 2014 is called ‘final salary pensionable pay’.  Final salary pensionable pay is a full time equivalent figure, even if a member works part time.  It includes your normal pay, contractual shift allowance, bonus and contractual overtime.  It does not include non-contractual overtime, which is one of the main differences between final salary pensionable pay and CARE pensionable pay.     

The LGPS regulations set out the full definition of final salary pensionable pay.  On the annual benefit statements calculated as at 31 March 2023, for those members who have pre-1 April 2014 membership, the final salary pensionable pay is the full time equivalent final salary pensionable pay received in the year to 31 March 2023.  If the pay you received in that year was reduced because of sickness or relevant child related leave, then the final salary pensionable pay is the pay you would have received if you had not been on sick leave or child related leave.   

 

 

What is CARE pensionable pay?

The ‘pensionable pay’ used to calculate benefits built up from 1 April 2014 onwards is the pay on which you normally pay pension contributions.  This includes your normal salary or wages (if you work part time it is your actual part time pay) plus any shift allowance, bonuses, overtime (both contractual and non-contractual), maternity pay, paternity pay, adoption pay, shared parental pay and any other payments that your contract states are pensionable.

Some payments are excluded from pensionable pay.  Examples of payments excluded from pensionable pay are: travelling or subsistence allowances, pay in lieu of notice, pay in lieu of loss of holidays, payments that are not subject to income tax.  A full list of payments excluded from pensionable pay can be found in the LGPS regulations, under 'meaning of pensionable pay'

Please go to the national LGPS member website for more information on what pensionable pay figures are used if you have been absent from work. 

 

 

What is membership?

If you were a member of the LGPS before 1 April 2014 then you will have membership details shown in section 4 of your annual benefit statement.  This is the period of employment during which you have been a member of the LGPS, up to 31 March 2014.  If you are part time your membership is scaled down to reflect your part time hours and counts as a proportion of full time.  Membership also includes any previous pension rights you transferred in from a previous pension provider.

Depending on when you joined the pension scheme you may have some membership before 1 April 2008 and some membership between 1 April 2008 and 31 March 2014.  The benefit statement notes for section 4 of your statement explain how we calculate your pension benefits.  You can also visit our page How is my pension worked out? for more information.

 

 

 

I am paying additional contributions.  Is this shown on the statement?

If you are paying additional contributions to buy additional pension, then the summary of total benefits at 31 March 2023 (section 2 of your statement) includes the proportion of additional benefits you have purchased up to 31 March 2023.

The estimated benefits if you stay in the scheme until normal pension age (section 6) include the total additional benefits you will have purchased by the time you reach normal pension age.

If you are paying towards Additional Voluntary Contributions (AVCs) you will receive a separate statement. 

 

 

Can I pay more to increase my pension benefits?

As a member of the Local Government Pension Scheme, you can pay extra in order to increase your pension benefits.   You can improve your LGPS retirement benefits by paying Additional Pension Contributions (APCs) or Additional Voluntary Contributions (AVCs).  Please see our page on Increasing Your Benefits for more information.

 

 

Will my co-habiting partner be eligible for a survivor's pension if I die?

Please see our page on co-habiting partners to see the list of requirements that co-habiting partners need to meet in order to qualify for a survivor's pension

 

 

What is the annual allowance?

The annual allowance is set by HM Revenue and Customs (HMRC).  It is the amount your pension savings can increase in any one year without there being a tax charge payable.   Please see our annual allowance page for more information, including a factsheet.  If you would like to speak to someone about your annual allowance, please call 01234 228065 or email pensions@bedford.gov.uk