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The factors used to work out the cost of buying additional pension are checked and changed from time to time.

The Ministry of Housing Communities and Local Government (MHCLG) issued revised factors on 14 March 2019 following a review by The Government Actuary’ Department (GAD). These revised factors apply to existing contracts which run past 31 March 2019.

Changes to members’ monthly Additional Pension Contribution / Additional Regular Contribution deduction will take effect from 01 April 2019. Employers with members affected were emailed with the relevant changes that needed to be made.

This change only affected a small amount of members, but if you’re deducting these contributions for a member and haven’t received an email then please contact us at PenEmployers@northamptonshire.gov.uk

 

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Employer newsletter issue 14

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Updated admission bodies, scheme employers and bulk transfer policy

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