Your LPP Pensions Update

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1 Your LPP Pensions Update LPP Employer Pensions Newsletter October Edition In this issue: Changes to your Newsletter Annual Allowance Shared Cost AVC s Employer Forum YourFund Feedback October 2017

2 Changes to your employer newsletter We want to ensure that this newsletter meets your needs, and contains information and news you find useful. So, based on your feedback, we ll be changing the frequency of this newsletter from monthly to quarterly. In addition, it will focus more on educational and relevant fund information. What does this mean for me? You won t receive a December newsletter. Instead, you ll get your first quarterly newsletter at the end of January, and then receive newsletters in April, July and October. And don t worry you won t miss any regulatory changes. Urgent updates will be sent straight to your inbox so you get regulatory news and information without delay. We want to hear from you! If you have suggestions about information you d like to see in the newsletter, please complete a feedback form. LPP Communications E: communications@localpensionspartnership.org.uk 2

3 Annual Allowance Letters Over the last few weeks I have been very active visiting employers and speaking with members who have been identified as being close to either the Annual (AA) or Lifetime Allowance limits (LTA). To those of you who have taken time to meet with me to understand these complex issues, thank you for your time and I hope I have been able to assist. If you have colleagues who did not manage to arrange a session with me please encourage them to drop me an and I will be happy to arrange a telephone conversation to explain any issues. As you know annual allowance and lifetime allowance are extremely complex matters and if you are approached by any of your members who have received a letter form me asking questions please feel free to refer them to me directly. My contact details are in the letters that have been sent to the members. One point to note on this issue is the upcoming budget, although we cannot predict what the chancellor may or may not say in his speech there is the risk LTA or AA limits may be affected. We will of course inform you of any changes that may affect these limits or pensions in general. Shared Cost AVC s In recent months, we have been contacted by several employers expressing an interest in setting up Shared Cost Additiional Voluntary Contributions (AVC) arrangements so that they can offer their staff the opportunity to make AVCs on a salary sacrifice basis. Our AVC provider Prudential are now able to accept employer contributions to your members AVC plans and can support employers in offering Salary Sacrifice Shared Cost AVC (SS SC AVC) arrangements to their eligible staff. Any employer who would be interested in setting up this style of arrangement must initially agree to comply with Prudential's terms of business. Details of how to contact Prudential to set up this facility can be found on our website: Neil Lewins E: neil.lewins@localpensionspartnership.org.uk 3

4 Employer Forum 2017 The date of the next employer Forum is approaching and will be taking place on Monday 6 November 2017, at LPP offices, followed by Lunch. To reserve your place, please us at: communications@localpensionspartnership.org.uk providing your name, employer, guest details (if applicable) and details of any dietary requirements. Agenda 10:00 Arrival and Registration Tea/coffee and help desks 10:30 Year in review Mike Allen, LPFA Managing Director Employer Services Tony Williams, Head of Employer Risk - Local Pensions Partnership 11:20 Investments: pooling and beyond Richard J Tomlinson, Investment Director, Head of Investment Strategy Local Pensions Partnership Q&A Session 12:00 Lunch and Networking Venue details: Ground Floor, Room G Union Street London SE1 0LL. 4

5 YourFund - have your say The web address of remains the same and you will not need to re-register. You can simply use your existing log in details. We welcome any feedback about the changes to the site, please do not hesitate to contact us. Do you have suggestions for the employer portal? Please send your suggestions to yourfund@localpensionspartnership.org.uk. All suggestions are reviewed monthly and will implement practical changes as soon as possible. Make the site work for you not the other way around! If you would like to hear how we are getting on please drop us a line on the same address. Contact Us: If you would like more information regarding the services we offer or would like to discuss your requirements with us in more detail then please contact us on: