The value of your benefits
There has been a lot of disturbing news lately about the fall in stock markets and the potential resultant impact on defined contribution pensions.
Local Government Pension Schemes (LGPS) defined benefit pensions aren’t linked to stock market performance and are set out in statute. Although short term investment values may vary, the LGPS as a long-term investor is securely managed to address any longer-term impacts.
Please rest assured that both your contributions and pension, whether in payment or built up to date, will be unaffected by the stock market.
The only exception to this Additional Voluntary Contributions (AVCs). If you have an AVC, it is possible the value may have reduced - this will depend on the funds you have chosen to invest in. You should contact your AVC provider for more information about this.