your LGPS pension and the mccloud remedy

Length of course: 1 hour 30 minutes (online)

Summary

This course provides a clear and accessible introduction to the McCloud age discrimination remedy and its impact on Local Government Pension Scheme (LGPS) members. It also refreshes key knowledge about how the LGPS works, the benefits of membership, and the options available to you both now and in the future.

Aimed at

This course is designed for active LGPS members who are likely to be affected by the age discrimination ruling.

You are likely to be affected if you:

  • Joined the LGPS or another public service pension scheme before 1 April 2012
  • Had pensionable service between 1 April 2014 and 31 March 2022 (the remedy period)
  • Were under age 65 for part or all of the remedy period
  • Have not had a disqualifying gap (a break of more than five years ending after 31 March 2012 when you were not contributing to any public service pension scheme)

Learning Objectives

  • Understand the key issues behind the public sector age discrimination ruling (McCloud)
  • Be familiar with the terminology used in the LGPS and the McCloud remedy
  • Know when key changes are happening and how updates will be communicated
  • Refresh your understanding of core LGPS benefits
  • Explore the options available to you now and in the future as an LGPS member

Course Structure

Introduction to pensions

  • Defined contribution schemes (DC)
  • Defined benefit schemes (DB)
  • Final salary DB
  • Career Average Revalued Earnings DB

The LGPS

  • Benefits of scheme membership
  • Contributions
  • Tax relief
  • 50:50 section
  • LGPS build up

The McCloud Remedy

  • The original underpin
  • Age discrimination
  • Changes to the underpin
  • Who does and doesn’t qualify for the new underpin

LGPS Options

  • Additional Pension Contributions
  • Additional Voluntary Contributions
  • Retirement ages
  • Flexible retirement
  • Taking a lump sum

Reviewing your LGPS

  • Your annual benefit statement

For further details please contact events@affinityconnect.org or contact Training on 0800 019 6076.