Local Authority Pensions discretions

Maria2512

Hi,

Who do you address the question to about employers pension discretions? Finance? Pensions? HR? Chief Exec? All of them?

thanks

Silvertabby

Maria2512 said:

Hi,

Who do you address the question to about employers pension discretions? Finance? Pensions? HR? Chief Exec? All of them?

thanks

HR.  Which particular discretion are you asking about?

Maria2512

Not sure yet, I’m still sizing them up!

Silvertabby

The most common one is not accepting transfers in from a previous DC scheme.  If this is the case, and you haven't accepted (or even applied) for a Local Government job, then your question should be directed to HR.

If you have already started work/joined the LGPS and are within your first 12 months of pensionable service then your LGPS will be able to tell you if they can accept a transfer in.

Another one is if the employer will pick up the strain costs in the case of normal retirment.  ie, if the employer will shovel in shed loads of money so that the pension can be taken without any reductions for early payment.  Let's just say that the words teeth, hens and rare spring to mind, not necessarily in that order.

hyubh

Maria2512 said:

Not sure yet, I’m still sizing them up!

You may well have already seen this listing, but...

https://www.lgpslibrary.org/assets/gas/ew/DISCLv1.10c.doc.pdf

Plus the LGPC's guidance to scheme administrators on the topic:

https://www.lgpslibrary.org/assets/gas/ew/DISCPv1.11c.pdf

Maria2512

Silvertabby said:

The most common one is not accepting transfers in from a previous DC scheme.  If this is the case, and you haven't accepted (or even applied) for a Local Government job, then your question should be directed to HR.

If you have already started work/joined the LGPS and are within your first 12 months of pensionable service then your LGPS will be able to tell you if they can accept a transfer in.

Another one is if the employer will pick up the strain costs in the case of normal retirment.  ie, if the employer will shovel in shed loads of money so that the pension can be taken without any reductions for early payment.  Let's just say that the words teeth, hens and rare spring to mind, not necessarily in that order.

Thanks. I’ve been in the LGPS for 23 years and just being mischievous and seeing if I can manipulate any discretions in my favour re early retirement.