I am an active member with underpin protection?
You do not need to do anything. When you take your pension, NILGOSC will compare the pension that you have built up from 1 April 2015 to 31 March 2022 in the career average scheme with the pension you could have built up had the final salary scheme continued. If the final salary pension would […]
Will my State Pension be increased?
Basic State Pension does not fall under the Pensions Increase rules. The Government’s ‘triple lock’ commitment increases State Pensions by the greater of either prices, earnings or 2.5%.State Pensions are not paid by NILGOSC. They are paid by the Social Security Agency who can be contacted at 0845 601 8821 if you have any queries, […]
What effect does the GMP have on the pensions increase which NILGOSC pays me?
At present when your GMP comes into force, the National Insurance Contributions Office (NICO) tells NILGOSC the amount of your GMP. If you reached State Pension Age (SPA) before 6 April 2016 NILGOSC then adjusts its records to reflect the fact that the Government now pays some of the annual pensions increase on the GMP element of […]
What is a Guaranteed Minimum Pension (GMP)?
The LGPS (NI) (the Scheme) is contracted out of the State Second Pension Scheme, previously known as the State Earnings Related Pension Scheme (SERPS). As a condition of contracting out for service before 1997, the Scheme had to guarantee that the pension benefits payable would be no less than a GMP. If you, or your […]
Who should I contact if I have any further questions?
Should you wish to discuss any item relating to your pension increase please contact the Payroll Team on our Direct Line 0345 3197 326 or email us at payroll@nilgosc.org.uk. Please remember that our busiest times are on pay days and the days that follow when we deal with very high volumes of calls. You may […]
Has the calculation of pensions increase changed?
Before April 2011, Pensions Increase was based on the increase in the Retail Prices Index (RPI) during the twelve months to the September of the previous year. However the Budget Statement of 22 June 2010 announced that from April 2011, the Consumer Price Index (CPI) replaced RPI as the measure of inflation used to apply […]
How much is my pensions increase?
The table below details recent Pensions Increase rates. Year Pension Increase 2024 6.7% 2023 10.1% 2022 3.1% 2021 0.5% 2020 1.7% 2019 2.4% 2018 3% 2017 1% 2016 0% 2015 1.2% 2014 2.7% 2013 2.2% 2012 5.2% 2011 3.1% 2010 0% 2009 5% 2008 3.9% If you only went on to pension during the previous […]
Can I cash in my pension for a lump sum?
A pensioner may request that their annual pension benefit is compounded and paid as a one off lump sum payment. There are two tests to determine if a compounded lump sum can be paid. Test one for trivial commutation A pension can only be commuted from age 55 or earlier if the ill-health condition is […]
I have a query regarding Income Tax. Who should I contact?
HM Revenue and Customs (HMRC) informs NILGOSC of the tax codes which must be applied to pensioners’ records. If you have any tax related queries, including queries on your tax code, you should contact the tax office directly on 0300 200 3300 (0044 135 535 9022 if overseas). We know that tax rules can […]
How will my pension be affected if I become separated or divorced or my civil partnership is dissolved?
If you become legally separated your widow, widower or civil partner will continue to be entitled to receive a survivor’s pension should you die before them. If you become divorced or your civil partnership is dissolved your ex-wife, ex-husband or ex-civil partner will cease to be entitled to a survivor’s pension should you die before […]