Pensions

Responding to the Government's guidance regarding COVID-19, we have adapted our processes..  The safety and wellbeing of our staff and everyone who accesses our services is our priority.  
 
From Monday 23 March until further notice, our office in Wandsworth Town Hall is no longer available for walk-ins, visitors to the PSS must have a pre-arranged meeting or have been invited by PSS staff.  
 
We will continue to deliver our services and respond to emails.  Our response times may change as current events develop.  Please only telephone the PSS where urgent. You can arrange a Skype meeting with us.  
 
We expect you to use our dedicated website for information and forms: pensionssharedservice.org.uk before contacting us.  We will post updates in the “News” section of our website.
 
We appreciate your assistance as we focus our staffing resources on delivering pension benefits.
 

Pensions Shared Service - Camden, Merton, Richmond, Waltham Forest and Wandsworth

The Pensions Shared Service administers the Local Government Pension Scheme for Camden, Merton, Richmond, Waltham Forest and Wandsworth.

The Local Government Pension Scheme (LGPS) is the nationwide pension scheme for employees working for Camden or other employers participating in the scheme.

Teachers are members of a separate pension scheme that is run by the Department for Education. Details about this can be found on the Teachers' Pensions website.
 
General Data Protection Regulation (GDPR)

The General Data Protection Regulation (GDPR) is a new set of European Union (EU) regulations which were implemented in the UK on 25 May 2018. The Government has confirmed that the UK's decision to leave the European Union will not alter this.  More information on GDPR and and how the regulations will affect Camden LGPS members can be found on the Pensions Shared Service Website.

Currently in the UK the Data Protection Act 1998 sets out how your personal information can be used by companies, government and other organisations. The GDPR will replace the Data Protection Act 1998.

There are new and extended rights for individuals in relation to the personal data an organisation holds about them, for example, an extended right to access and a new right of data portability.

In addition, organisations will have an obligation for better data management and a new regime of fines will be introduced for use when an organisation is found to be in breach of the GDPR.

The processing of data in the National Fraud Initiative (NFI) data matching exercise is carried out with statutory authority under the Local Audit and Accountability Act 2014. It does not require the consent of the individuals concerned under the Data Protection Act 1998 or the GDPR.

“Freedom and Choice”

You may have read about and seen the adverts on TV recently about the forthcoming flexibilities around withdrawing money from pension schemes. We have been receiving enquiries about whether members of the Local Government Pension Scheme (LGPS) can use these new flexibilities, so more information about these provisions and how they interact with the LGPS can be found below. 

You should be aware that these new arrangements apply to Defined Contribution pension saving arrangements and not Defined Benefit pension schemes so these arrangements do not directly affect the LGPS. 

More information on the freedom and choice regulations can be found on the Pensions Shared Service website.

Local Government Pension Scheme

If you are a member of the LGPS administered by the London Borough of Camden, your pension contribution rate with effect from 1st April 2016 is shown in the table below. You pay a lower rate of National Insurance if you are a member and also get tax relief on your pension contributions.

Band	Range	Contribution Rate
1	Up to £13,600	5.5%
2	£13,601 to £21,200	5.8%
3	£21,201 to £34,400	6.5%
4	£34,401 to £43,500	6.8%
5	£43,501 to £60,700	8.5%
6	£60,701 to £86,000	9.9%
7	£86,001 to £101,200	10.5%
8	£101,201 to £151,800	11.4%
9	More than £151,800	12.5%

You may opt to transfer previous pension rights into the scheme within 12 months of joining. If you have not already done so, you may complete the previous pension rights form to inform us of any relevant service.

In the event of your death a lump sum of 3 times your pensionable pay is payable. You may complete an expression of wish form in order to inform us of your wishes. A pension is also payable to your spouse, civil partner, eligible cohabiting partner and eligible children. 

You may increase your benefits by making Additional Pension Contributions - APCs (details including a calculator and application form here)  or by paying Additional Voluntary Contributions - AVCs (visit the Prudential website)

Camden’s AVC provider is Prudential.

Further information for Members:

• Pension Newsletters
• Policy statements on the use of discretions (PDF)
• Internal Dispute Resolution Procedure (IDRP) employee's guide (PDF)

Forms

If you wish to make changes to your pension the Pensions Shared Service provide the relevant forms.

 

Links

• Additional Voluntary Contributions (AVCs) (Prudential website)
• Local Government Pension Scheme member website

Contact

Email [email protected]

Information and documents if you are currently receiving a pension from Camden.

LGPS pensions are paid monthly, directly into your bank account, and are taxable. You will get a P60 after the end of each tax year, showing you the amount of pension paid and tax deducted during the year. Payslips are posted to you in March, April and May of each year and any month in which your net pay differs by more than £1.

If you have any tax queries, you should address them to the tax office dealing with your pension quoting reference 120 LB2.

HMRC, PAYE, PO Box 1970, Liverpool, L75 1WX

The telephone number is 0845 300 0627

If you change any of your personal details, such as your address, the bank/building society account your pension is paid into, name or marital status, you must inform us to ensure you continue to receive your pension. You may use the forms here or email (not bank changes), fax or write to us. You can continue to receive your LGPS pension if you move abroad.

Further information can be found on the Pensions Shared Service website.

Information for outside employers can be found on the Pensions Shared Service website.

Funding Strategy Statement

Information and documents if you used to pay into the local government pension scheme.

If you used to pay into the LGPS and have neither transferred your benefits to a new pension provider nor yet received payment of your benefits, you have deferred benefits.

We will send you an annual statement each year until they come into payment. Please inform us if you change address by email, fax or letter. 

Forms

• expression of wish form (PDF)

Information and documents if you are not currently paying into the scheme

If you are not currently paying pension contributions and wish to start, please complete and return the opt in form. 

Your pension contribution rate from April 2014 is shown on the table below, based on actual pay including overtime. You pay a lower rate of National Insurance if you are a member and also get tax relief on your pension contributions.

In the event of your death a lump sum of 3 times your pensionable pay is payable. You may complete an 'expression of wish' form in order to inform us of your wishes.  

A pension is payable to your spouse, civil partner, eligible cohabiting partner and eligible children. 

Pension contribution bands

Band	Range	Contribution Rate
1	Up to £13,600	5.5%
2	£13,601 to £21,200	5.8%
3	£21,201 to £34,400	6.5%
4	£34,401 to £43,500	6.8%
5	£43,501 to £60,700	8.5%
6	£60,701 to £86,000	9.9%
7	£86,001 to £101,200	10.5%
8	£101,201 to £151,800	11.4%
9	More than £151,800	12.5%

 

Forms

• expression of wish form (PDF)

The pensions team is part of the Pensions Shared Service for Camden, Merton, Richmond and Wandsworth.

For full details about the scheme, please visit the local government pension scheme website at www.lgps.org.uk. 

Contact the Pensions Team

Our pensions team can also help you with the following:

• Increasing your retirement benefits - buying additional pension / paying additional voluntary contributions (AVCs). 
• Nominating who you would like death in service benefits to be paid to.
• Advice on pension rights during maternity leave, unpaid leave or industrial action.
• Advice on pension options if you leave the council's employment before retirement.
• Transferring previous pension rights into the Camden Scheme (election must be made within 12 months of joining the scheme). 
• The 50/50 scheme

 

Actuarial Valuation

Actuarial valuation as at 31 March 2019

Actuarial Valuation as at 31 March 2022

 

Funding Strategy Statement

Funding Strategy Statement

 

Camden Voting Guidelines 2022

Camden Voting Guidelines

 

Investor Belief Statement

Investor Belief Statement (See Section 2 and Table 3)

 

Annual Report

Annual Report 2019/20 (Unaudited) (PDF)

Annual Report 2020/21 (Unaudited) (PDF) 

Annual Report 2021/22 (Unaudited) (PDF) 

 

Voting Information

Proxy Voting Review

Quarter 3 2023 Votes

Quarter 2 2023 Votes

Quarter 1 2023 Votes

Quarter 4 2022 Votes

Quarter 3 2022 votes

Quarter 2 2022 votes

Quarter 1 2022 votes

Quarter 4 2021 votes

Quarter 3 2021 votes

Quarter 2 2021 votes 

Quarter 1 2021 votes

Quarter 4 2020 votes

Quarter 3 2020 votes

Quarter 2 2020 votes

Quarter 1 2020 votes

Quarter 4 2019 votes

Quarter 3 2019 votes

 

Risk Register

Risk Register (24 July 2023)

Risk Register Report (24 July 2023)

 

Exit Credit Policy Statement

Exit Credit Policy Statement

 

Pension Committee Archive

Pension Committee Meetings

 

Pension Board Archive

Pension Board Meetings