Greater Manchester Pension Fund: Announcement for members.

11 Mar 2008

New scheme offers option to buy annual pension.

As you may be aware, a new-look Local Government Pension Scheme comes into effect from 1 April 2008. GMPF are preparing a Pensions Power confirming the details of the new scheme (details of the proposed scheme were sent in the July 2007 Pensions Power). Under the new scheme, the option to buy extra membership is being phased out and replaced with a new option to buy annual pension (up to a maximum of £5000 pension per annum). You can still apply to buy extra membership as long as you sign up for this option before 1 April 2008, even if your first payment falls after this date.

If you wish to consider buying extra membership you should contact the Greater Manchester Pension Fund as soon as possible. They will then provide you with a personal illustration and a form in case you want to proceed. Your doctor will also have to fill in a section of the form to confirm your health.

For further details please contact the Greater Manchester Pension Fund on 0161 301 7000 and have your national insurance number to hand.

Pensions Office
6 March 2008