Key Facts About LGPS
2014 Proposals and LGPS Members
(based on UNISON LGPS Campaign news 20 which I have updated a little)
Consultation is taking place until July 11 - the ballot starts 31 July and finish 24 August.
·
90%
of members will pay the same contributions as now
·
Nearly All
part-time workers and those earning between £15,801 and £21,000 will pay less in LGPS 2014
·
Over
55% of local government workers work part-time
·
Only
those earning over £43,001 will pay more
·
They
make up just 4% of LGPS members
·
95.6%
members earn less than £43,000 - the point at which contributions increase
·
The
LGPS 2014 will deliver a better pension than LGPS 2008 for members until 20 –
25 years of membership
·
But
the average length of membership in the scheme is just 7 years, so most members will do better in LGPS 2014
·
From
1 April 2014 the Normal Pension Age (NPA) will be linked to the State Pension
Age – which is set to rise to 68 between 2044 and 2046
·
But many members retire
before 62, the increase in NPA will not stop this.
·
Those
who have to work longer will get a bigger pension because they will be paying
contributions – and benefitting from employer contributions for longer
·
Because
all earnings will be pensionable – including non-contractual overtime and
additional hours for part-time workers – members will have bigger pensions than
now
·
Most UNISON members not in the LGPS give cost and low pay as the
reason. The “50/50 option” will help
them to join.
Recruit and Organise - You will soon receive a recruitment leaflet
based on the LGPS 2014 proposals. PLEASE USE IT! Many low-paid and part-time members will be
able to join the LGPS for the first time because of UNISON’s negotiations – and
most members will pay no more for the same – or better pension.
This is a big achievement in the face of a
hostile government which wanted to end defined benefit pensions, increase
contributions and worsen benefits.
Let non-members know what UNISON has done and
will continue to do for our members.
(based on UNISON LGPS Campaign news 20 which I have updated a little)
Consultation is taking place until July 11 - the ballot starts 31 July and finish 24 August.
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