LGPS - Amalgamation 'Offer'

cloud_dog

Silvertabby wrote: »

Yes, from her employer - but be careful. The final salary linked pensionable pay is just contractual pay, whereas CARE pensionable pay includes overtime and other extras.

Well, that puts a bit of a fly in the ointment. Whilst there are no guarantees she has for a while now been working approximately 25% extra hours / overtime

cloud_dog

Silvertabby wrote: »

To compare the two, you need to find out what your wife's whole time equivalent pensionable pay (old rules) would be - ie, if she worked full time.

Ok so, the numbers have come back:

LS WTE pensionable pay, increased to 2018 levels is: £15817.48
TA WTE pensionable pay is: £17546.39

Silvertabby

!!!8220; To compare the two, you need to find out what your wife's whole time equivalent pensionable pay (old rules) would be - ie, if she worked full time.
Originally posted by Silvertabby

cloud_dog wrote: »

Ok so, the numbers have come back:

LS WTE pensionable pay, increased to 2018 levels is: £15817.48
TA WTE pensionable pay is: £17546.39

Then it would probably make sense to combine.

Look at the statement - your wife's 323 days of 1/60th service on a pensionable pay of £15204.73 gives her an annual pension of £224.25. (£15817.48 would give her £233.29). By combining her records, those 323 days would be re-calculated on her higher TA salary. Her current salary of £17546.39 increases her pension for those 323 days to £258.79.

The only thing to be aware of is if her TA salary only increases by 1% per year whilst CPI stays at something like 3% - but we are talking real crystal ball stuff here and, to be fair, the pension involved is so small it will be easier for her to keep track of it if it were to be combined.

cloud_dog

Thanks for your's and other posters input. As always extremely helpful and enlightening.

Due to the relatively close salaries I always thought it would be half a dozen of one and 6 of the other. The fact that all pensionable employment is utilised under the CARE scheme should mean my wife will benefit for any additional hours worked (over contracted).

Silvertabby

cloud_dog wrote: »

Thanks for your's and other posters input. As always extremely helpful and enlightening.

Due to the relatively close salaries I always thought it would be half a dozen of one and 6 of the other. The fact that all pensionable employment is utilised under the CARE scheme should mean my wife will benefit for any additional hours worked (over contracted).

Yes, but remember these extras will only count towards her CARE accrual - her pensionable pay for her 1/60th final salary pension (pre 2014 service) will be her contractual pay only.

cloud_dog

Ok, thanks