How do I contact Tyne and Wear pension?

How do I contact Tyne and Wear pension?

If you do need to speak to our helpline please call 0191 424 4141. Our website www.twpf.info contains lots of useful information and links to other websites which you may find helpful.

What are the LGPS pools?

The LGPS is one of the largest funded pension schemes in Europe. The Government commissioned research in 2015 which indicated that significant savings can be delivered by the creation of around six investment pools, each with assets of at least £25bn.

Can I claim my local government pension at 55?

You can take your LGPS pension at any time from age 55 to 75, as long as you have met the two-year vesting period. You must take your pension by age 75. If your employer agrees, you can even take your pension without leaving your job – this is called flexible retirement.

How much will my pension cost?

The annual management charge on a pension can be a flat fee or a percentage of your overall pot. The average annual charge is 1.09%, according to pension adviser Profile Pensions, but this is still quite high with anything over 1% classed as expensive by the firm.

How do I find my pension fund?

If you belong to one, your pension provider will usually send you an annual benefit statement. If you don’t receive a statement, you can ask for one. The statement shows how much pension you might get. It might assume that you take your tax-free cash lump sum.

What county is Tyne and Wear in?

Tyne and Wear, metropolitan county in northeastern England. Named for its two main rivers, the Tyne and the Wear, it is bounded by the administrative counties of Northumberland (north and west) and Durham (south) and by the North Sea (east).

Is LGPS a funded scheme?

Regardless of whether the McCloud costs are included in cost share the LGPS is a funded scheme and employer contributions are determined at fund level. This means any change in cost is likely to be reflected in higher employer contributions.

Is local government pension paid for life?

As an LGPS member, you build up a pension that will increase in line with the cost of living for the rest of your life after you take it. You can exchange part of your pension for a tax-free lump sum that is paid when you take your benefits.

What was Tyne Wear called before?

The Bill as presented in November 1971 pruned back the southern edge of the area, and gave it the name “Tyneside”. The name “Tyneside” proved controversial on Wearside, and a government amendment changed the name to “Tyne and Wear” at the request of Sunderland County Borough Council.

Is Tyne and Wear a good place to live?

THE North-East is the perfect place to live with its vast countryside, waterfalls and coastal beauty spots within an hour or two drive. Tyne and Wear is a myriad of historic and iconic towns, villages and bustling cities.

How much pension will I get from LGPS?

For membership before 1 April 2008, you receive a pension of 1/80th of your final pay plus an automatic lump sum of three times your pension. Your final pay is usually your pensionable pay in the year you leave the Scheme. Pay from one of the previous two years can be used if it is higher.

What is the 85 rule for pensions?

What is the Rule of 85? Member’s whose age plus scheme membership (in whole years) equals 85 may be able to take their pension before their Normal Pension Age, without it being reduced for early payment.