Annual update for deferred members July 2021
The 2021 Annual Benefit Statements for deferred members and pension credit members are now available through each member's online mypension account. These Statements show the value of the benefits built up as at 12 April 2021 within the Tyne and Wear Pension Fund. If you are already registered to access your mypension online account, you will receive an email to let you know your Statement is available to view.
The deferred Statements show the benefits each member held at the date they left the Scheme, along with the current value of the benefits as at 12 April 2021. The pension credit Statements will show the benefits awarded to the member at the date the Pension Sharing order was granted by the Court, along with the current value of the benefits as at 12 April 2021. You can view a deferred benefits statement sample. To view your personal Statement you need to login to your mypension account.
Please note: If you also have an active membership in the Tyne and Wear Pension Fund the Annual Benefit Statements for these records will be available online in July.
If you have been in contact with us to request a paper Annual Benefit Statement, this information will be sent out in late July.
Registering for mypension
If you would like to register for mypension online services a full registration guide is available under the Help using your mypension account section of our website.
My benefits if I die?
The Scheme provides benefits for your family. The exact benefits will depend on your circumstances at the time of your death, and the dates of your Scheme membership, if you are a deferred member. There may be a death grant and survivor's benefits due to your family.
If you are a pension credit member, any benefits payable in the event of your death may be different.
To find out further information, please read our page about death benefits.
Rejoining the LGPS
If you rejoin or have already rejoined the LGPS with another fund in England and Wales, (if you have not already done so) you must:
- tell us that you contribute as a current member in another Fund
- tell your current Fund's administering authority that you
- deferred benefits from this Fund or another LGPS Fund in England and Wales and / or
- membership within another public service pension scheme (even if you received a refund of contributions).
This is required to make sure that you are given the appropriate options on linking your benefits together. Failure to do so could lead to certain statutory rights not being applied.
For further information about your options on rejoining the LGPS please visit our re-joining the LGPS page.
Please note: If you are a pension credit member, you will not have the same options, as your benefits are not based on your own contributing membership, but have been awarded as a result of a Pension Sharing Court Order. It is only possible to join or rejoin contributing membership together if it is your own membership within the LGPS.
Pension Increase information
Public service pensions are reviewed each year in line with the provisions of the Pensions (Increase) Act 1971 and Section 59 of the Social Security Pensions Act 1975. You do not need to request any increases, as the Pension Fund staff will automatically apply any appropriate increases.
For further information about pension increase information please visit the LGPS Member's website.
Your choices at retirement
Your Statement will show your standard benefits package. However, when you retire and draw your pension benefits, you can choose to permanently reduce your pension to create or increase your lump sum value.
For further information about your choices please visit the LGPS National Member Website.
If you are a pension credit member, your benefits options may be different depending on the exact circumstances of your individual case.