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Important information for Pensioners

Some important changes to mailings

You may have seen on our website and in the grapevine newsletter that the new online self-service, My Pension, is now available for you to use. This is a secure area of our website where you will be able to:

  • View and print your payslips and P60
  • View and change your contact details
  • View and change your nominated beneficiaries
  • Keep up to date with your pension
  • Change your bank account details

As all the information you usually receive will now be available online, we have taken the decision to cease sending paper communications. Therefore, this year will be the last paper P60 that you will receive from us. Future P60’s will be made available online and we will send you an email when they are available for you to view.

We will be sending a paper payslip for May; however this will be the last one we send. Again, your payslip will be available online each month on your My Pension account and can be printed if you need a paper copy.

We appreciate that this will be a change to the service which we have provided previously and therefore have created a Frequently Asked Questions document which we hope will answer any questions which you may have.

My Pension drop in sessions

If you need help registering for My Pension and prefer to speak to someone in person about it then you can always call in and see us. We are holding some drop-in sessions to help you register and use the My Pension system at our offices in Droylsden on the:

4th April, 10th May and 16th May between 9am and 3pm.

We’ll have plenty of people on hand to help you so you don’t need to book, but please be aware that there could be a short wait if we have lots of interest. If you are unable to visit us please don’t worry. There’s lots of help on our MyPension login page or you can always call our Helpline where a member of our Customer Services section will be able to help you.

This year's benefit statement covers

Pensions Increase for 2019

One of the benefits of being a member of the LGPS is that your pension is index-linked. This means that it is revalued each year in line with inflation to protect it from rises in the cost of living.

The increase is based on the Consumer Price Index (CPI). This year’s increase is 2.4%. The increase will be applied on the 8th April 2019. So part of your April pension payment will be increased and then the full monthly amount will be increased from May onwards. And if you claimed your pension part way through the last year then you will receive a part year increase. Please see the table below.

Date of Retirement Increase
09/04/2018 23/04/2018 2.40%
24/04/2018 23/05/2018 2.20%
24/05/2018 23/06/2018 2.00%
24/06/2018 23/07/2018 1.80%
24/07/2018 23/08/2018 1.60%
24/08/2018 23/09/2018 1.40%
24/09/2018 23/10/2018 1.20%
24/10/2018 23/11/2018 1.00%
24/11/2018 23/12/2018 0.80%
24/12/2018 23/01/2019 0.60%
24/01/2019 23/02/2019 0.40%
24/02/2019 23/03/2019 0.20%

If you have reached your state pension age, and were a member of the LGPS before 6 April 1997, then some of the increase will be added to your LGPS Pension, and some will be added to your State Pension. This is called a Guaranteed Minimum Pension (GMP) and is simply a minimum amount the pension from us has to reach.

If you are under 55, your pension won’t start increasing until your 55th birthday, unless you retired on the grounds of ill health.

The new Standard Personal Allowance limits

The Standard Personal Allowance (the amount you can normally earn before paying tax) will increase to £12,500 in 2019/20. If your taxable income is less than the personal allowance then you won’t pay any tax, although different rules apply if you earn over £100,000 per annum or claim marriage allowance or blind persons’ allowance.

Where you live in the UK will determine the rate of income tax you pay on your pension, therefore it is important that you keep us and HM Revenue & Customs (HMRC) informed if you move address.

If your total income takes you over £12,500 then the amount over this is taxed.

Income tax rates & bands for 2019/20 for taxpayers in England are as follows:

INCOME TAX BAND
Up to £12,500 -
£12,500 to £50,000 20% income tax
£50,001 to £150,000 40% income tax
Over £150,000 45% income tax

Income tax rates & bands for 2019/20 for taxpayers in Scotland are as follows:

If you are classed as a Scottish Tax payer HMRC will send you a tax code that is preceded with an ‘S’.

INCOME TAX BAND
Up to £12,500 -
£12,500 - £14,549 19% income tax
£14,549 to £24,944 20% income tax
£24,944 - £43,430 21% income tax
£43,430 - £150,000 41% income tax
Over £150,000 46% income tax

Income tax rates & bands for 2019/20 for taxpayers in Wales are as follows:

If you are classed as a Welsh Tax payer HMRC will send you a tax code that is preceded with a ‘C

INCOME TAX BAND
Up to £12,500 -
£12,501 - £50,000 20% income tax
£50,001 - £150,000 40% income tax
Over £150,000 45% income tax

P60’s and Grapevine Newsletter

2018/19 P60’s and copies of the Grapevine Newsletter will be posted out on the following dates:

Pension Payment Date Date your P60 and Grapevine letter will be sent
1st working day of the month 27th - 29th March 2019
Middle of the month 15th - 17th April 2019
Last banking day of the month 24th - 26th April 2019
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