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Scheme pensioners

1. Scheme pensioners

This page contains important information for pensioner members. Pensioner members are those with their pension already in payment.

Pensioner pay dates 2020 to 2021

Thursday 30 April 2020
Friday 29 May 2020
Tuesday 30 June 2020
Friday 31 July 2020
Friday 28 August 2020
Wednesday 30 September 2020
Friday 30 October 2020
Monday 30 November 2020
Thursday 31 December 2020
Friday 29 January 2021
Friday 26 February 2021
Wednesday 31 March 2021

My pension online

‘My pension online’ is our free self-service portal allowing you to access your Buckinghamshire LGPS pension account 24 hours a day, 7 days a week.

Using ‘my pension online’ you can:

  • Update your personal information such as your address and phone number
  • Change or add nominations for the death grant and survivor benefits
  • Get a calculation of death benefits that may be payable when you die
  • Check your tax code and find out how much tax you’ve paid
  • Access and download payslips, letters, P60s and other information about your pension

Login now or register now or visit our ‘my pension online’ webpage for more information.

Pension payslips

We send a payslip to all our pensioners in May and September to confirm that the address we hold is still current.

If payslips are returned by Royal Mail we will suspend payment of the pension until we hear from you. If you move, you can update your address online, or by writing to us. If you write to us, for audit purposes, please sign your letter.

Opting out of 'my pension online'

‘My Pension Online’ is environmentally friendly and cost effective. However, you do have the right to opt out of if you choose to. You need to request this in a signed letter which includes your full name and your national insurance number or pay reference number.  

Pension payslips and P60s

Your annual pension is subject to tax and paid monthly. Each month we produce a payslip and upload it to your ‘my pension online’ account. Paper copies of payslips are also sent twice a year in May and September.

Your P60 is produced by the statutory deadline of 31 May and uploaded directly to your ‘my pension online’ account. Your P60 provides you with details of your pension income over the last tax year and any tax deductions.

If you have any tax queries, you should contact the tax office on 0300 200 3300.  You should quote our tax office reference number: Local Government Pension Scheme  Tax reference 120/JZ56432

You can find out more information about income tax by visiting the Tax Office website.

Change of address

It’s very important that you inform us when you change your address. If we receive returned mail, such as payslips, we will suspend your pension payments for security reasons until we are able to verify your address. The quickest way to update your address is by logging into your ‘my pension online account’.

Otherwise, please send us a letter either in the post or by email which contains:

  • Your full name
  • Your national insurance number or your pay reference number
  • Your new address
  • Your signature

If any of these details are missing, we will be unable to update your record and reinstate your pension payments.

Death Grant nominations

In some cases a death grant may be payable to a nominated person(s) or charitable trust.

You can tell us who you would like to nominate via your ‘my pension online’ account, or by completing an expression of wish form.

Bank account changes

If your bank or building society returns a payment to us, your pension will be suspended until we hear from you.

For security and audit purposes you must make a written request for any changes to your bank details. In your letter you must include:

  • The name of your account (as it appears on your card)
  • The sort code
  • The account number
  • Your pay reference number or national insurance number
  • Your signature

If any of these details are missing, we will be unable to process your request. You can post, email this letter or upload it to your ‘my pension online’ account. 

Bank account changes received before the 15th of the month will meet the payroll deadline. Changes received after this date may not take effect until the following month.

You can usually continue to receive your pension if you move abroad. Contact us to arrange this.

Change of name

To inform us of a name change, please send us a signed letter which includes your national insurance number or your pay reference number as well as a photocopy of an official document confirming the change. This could be a marriage certificate, a decree absolute, or a deed poll certificate. You can also upload these documents securely to ‘my pension online’.

For all our contact details, visit the contact us page.

Postal address

Pensions and Investments Team
Buckinghamshire Council
Walton Street Offices
Walton Street
Aylesbury
HP20 1UD

2. Newsletters, forms and fact sheets

Our Local Government Pension Scheme (LGPS) pensioner newsletters, forms and fact sheets can be downloaded by selecting the links below.

 

In Touch newsletters

In Touch 2020 - Our 2020 pensioner newsletter
In Touch 2019 - Our 2019 pensioner newsletter
In Touch 2018 - Our 2018 pensioner newsletter

 

LGPS Retirement booklet

LGPS Retirement booklet - Useful information for the newly retired or those approaching retirement.

 

Forms and factsheets

General Data Protection Regulation (GDPR) FAQ - Answers to frequently asked questions about GDPR
Pension payments and Guaranteed Minimum Pension

3. Pensions increase

Local government pensions are revalued each April in line with changes in the Consumer Prices Index (CPI) as at the previous September. HM Treasury issue a Pensions Increase review order to notify us of the annual increase. The increase is applied to all pensions in payment for members aged 55 and over, as well as pensions paid to dependants of deceased members and those under age 55 who retired due to ill health.

If the annual CPI rate is negative, there is no increase or decrease applied to pensions in payment. LGPS funds have no discretion to vary the increase. To clarify, it does not in any way reflect the performance of the fund, or any pay freeze on public sector workers imposed by the government.

 

The increase applied in April 2020 was 1.7%.

 

We will confirm next year’s pension increase figure in our pensioner newsletter, ‘In-Touch’ which is issued every Spring.  

The pension increase figures for the last 10 years are provided in the following table.

Year PI%
2010 0.0
2011 3.1
2012 5.2
2013 2.2
2014 2.7
2015 1.2
2016 0.0
2017 1.0
2018 3.0
2019 2.4
2020 1.7

Tax and your pension increase

As the pensions increase may change the amount you are receiving in pension income, Her Majesty’s Revenue and Customs (HMRC) may issue you with a new tax code. HMRC assess each individual’s circumstances and allocate the appropriate tax code accordingly. This code is then sent to us electronically and automatically updates our payroll system. If your code has changed, HMRC will send you confirmation of your new tax code and how the code has been assessed. Should you have any queries regarding your tax code you need to contact HMRC.

For more information on tax codes, visit the HMRC website or call: 0300 200 3300.

Please quote your Pay as You Earn (PAYE) reference number - 120/JZ56432 – when you contact the Tax Office.

Your state pension

State Pensions are increased on 6 April each year. The basic State Pension increases each year by the highest of the following:

  • Earnings – the average percentage increase in UK wages, or
  • Prices – the percentage increase in the cost of living (CPI), or
  • 2.5%

You can find out more about the State Pension by visiting www.gov.uk/state-pension.

If you have concerns about your finances we would suggest that you contact The Pensions Advisory ServiceCitizens Advice Bureau, or Age UK.

 

Guaranteed minimum pension (GMP)

If you were contracted out between 6 April 1978 and 6 April 1997, you will have a protection included in your deferred benefits known as a Guaranteed Minimum Pension (GMP). GMP rules are complicated, but generally this protection works to ensure your deferred benefits cannot be less at GMP age (60 for a woman, 65 for a man) than what you would have received had you contributed to the (now defunct) State Second Pension.

This amount does not appear separately on any pension statement, and it will only be included in your pension benefits i) when you start to receive them and ii) when you reach GMP age. You will receive an increase paid on any GMP protection built up after 5 April 1988 as part of your pension benefits. The increase on this element of your GMP will be equivalent to the pensions increase figure with a maximum of 3%. You will receive any increase due on your pre 5 April 1988 GMP protection in your state pension.  

 

Payslips and tax form P60

The gross pay figure appearing on your P60 is always less than the annual pay figure on your March payslip because the payslip figure is your current rate of pension and has not been paid for the whole of the tax year.

Your P60 will be available by 31 May each year.

4. Covid-19 - LGPS information for pensioners

The Covid-19 coronavirus pandemic has led to unprecedented changes in the way that we live and work. You may be wondering what impact the outbreak will have on your Buckinghamshire Local Government Pension and the services that we’re able to provide.

We’ve put this short guide together to answer some of those questions. Please take the time to read it through before contacting us.

 

Will you keep paying me my pension?

Yes. We consider this a priority. Your payments will continue as usual.

 

I heard that the coronavirus is impacting on pensions, will the value of my Buckinghamshire local government pension decrease?

No. The Local Government Pension Scheme (LGPS) is a defined benefit scheme. This means your pension is based on your salary and how long you’ve paid in, rather than any investment or stock market performance, so it will not be impacted by the current crisis.

 

What impact will the coronavirus have on the pensions increase?

Your local government pension is revalued each year according to the pensions increase percentage figure. This figure changes each year in line with government guidance. It can go up, and it can also go down.

This year’s increase of 1.7% will not be impacted by the crisis, and you will continue to receive the same rate of pension. It is too early to tell whether next year’s pension increase figure will be impacted.

However, if the figure falls to 0% or below, though your pension may not increase, it will also not decrease.

 

Can I still get in touch with you if I have a question, or need help with my pension?

Yes. Although, as we are prioritising certain areas of work, such as; retirements and deaths, it may take a little longer than usual to respond to your query. But we will do our best to assist you as soon as we can.

 

Can I still send you letters?

You can still send us letters if you don’t have internet access, but it may take longer than usual to process your request.

To provide you with the best service, and to minimize our time in the office, we request that you please send us information electronically.

You can now send us information via your ‘my pensions online’ account? If you don’t have an account set up, or you need some help registering, we’re more than happy to assist. You can email us at mypensiononline@buckinghamshire.gov.uk or call us on 01296 383  755.

 

I heard that there are more scams about due to coronavirus, what can I do to protect myself and my pension?

We have many procedures in place to ensure that your details are kept safe. So, you can relax knowing that we are looking after the security of your pension account.

However, there are sadly many scams currently operating in relation to Covid-19 which you should be aware of. The scammers have very clever ways of getting access to your personal information.

It is essential that you take every precaution to avoid falling victim to a scam, and don’t share personal information with others. Everyone can be scammed; not just the vulnerable. Age concern have created an excellent guide regarding common scams. If you do suspect a scam, you should call Action Fraud immediately on 0300 123 2040.

 

I’m struggling to manage; how can I find out what help is available to me while I’m social distancing? 

You should contact your local council in the first instance. If you are a Buckinghamshire resident, there are many local services offering help and support to vulnerable residents.

The Money Advice Service has more information on the financial support that may be available to you. 

 

Contact

If you require any further information, you can contact us using the details below.
Take care and stay safe, from all the staff at Buckinghamshire LGPS

Email: pensions@buckinghamshire.gov.uk
Telephone: 01296 383 755                              
Online: My pension online

You can also access the national LGPS website at www.lgpsmember.org for more information. 

 

Download

LGPS Covid 19 pensioner FAQs PDF, 206KB