Local Government Pension Scheme
Important news update – March 2012
New Employee Pay Bandings 2012/13: Full details of the new pay banding for employees' pension contribution rate for the period 1 April 2012 - 31 March 2013.
Pension forms
- Opt-in form
- Expression of wish form (death grant nomination)
- Nominated co-habiting partner form (applicable only for pension scheme members who have paid into the LGPS on or after 1 April 2008)
- Change of Bank Details
- Change of Address Details
- Opt-out form
- Transfer in form.
Pension guide
We provide information on the Local Government Pension Scheme for both the scheme member and the employer, to help assist with their everyday responsibilities. Tell us what you would like to see included.
A guide to the Local Government Pension Scheme 2007/2008
Please note: the guide gives information on the scheme before 1 April 2008. In the meantime more details can be found at: New 2008 Scheme
Pension fund valuation reports
Local government pension scheme (LGPS) links
- Home Page
- Thinking of joining
- Already a Member
- Previously a Member
- Receiving a pension
- Awarded a Pension Share on Divorce
For a complete working copy of the regulations visit The Timeline Regulations.
Online member self service - powered by AXISe pensions systems
You can view information about your own pension using our internet member self-service. If you are an LGPS member with London Borough of Barnet, you will already have been provided with a password to this service which is required to log on to this service.
When requesting a replacement password for the pensions self service, please enter your email address in the field provided to receive this by email. If you want to receive this by post to your home address, leave the email field blank.
How to use Axis Internet
Registering your pensions online
Pensions increase 2012
Pensions are increased annually in line with increase in prices (the consumer prices index). The increase from 9 April 2012 is 5.2 per cent. Any pension which has been in payment for less than a year will be increased by a proportionate amount depending upon the number of months it has been in payment.
If you have a Guaranteed Minimum Pension (GMP) some of the increase will be paid within your state pension.
Pensions Increase April 2012: Percentage Breakdown
More details on pensions increase can be found at: Pensions Increase
Pension fund annual report
Each year the London Borough of Barnet Pension Fund is required to produce an Annual Report including a statement of accounts. This document has been subject to an external audit to ensure the accuracy of the contents and compliance with statutory requirements and proper accounting practices
Statement of investment principles
Statement of Investment Principles Oct 2010
The Statement of Investment Principles governs decisions relating to the investment of assets of the London Borough of Barnet Pension Fund. Prior to adopting these principles, due consideration was given to the professionalism of the fund's investment consultants and the results of the latest actuarial triennial valuation.
The fund's investment responsibilities are prescribed by the Local Government Pension Scheme (Management and Investment of Funds) Regulations 1998 and any amendments thereto (The Regulations). A copy of the Regulations is available for inspection on request.
The statement is a living document, reviewed at least annually to ensure it accurately reflects any changes to the fund's investment arrangements.
Funding strategy statement
The Funding Strategy Statement forms part of a framework which includes:
- the Local Government Pension Scheme Regulations 1997
- the Rates and Adjustments Certificate, which can be found appended to the Fund actuary's triennial valuation report
- actuarial factors for valuing early retirement costs and the cost of buying extra service
- the Statement of Investment Principles.
This is the framework within which the fund's actuary carries out triennial valuations to set employers' contributions and provides recommendations to the administrating authority when other funding decisions are required, such as when employers join or leave the fund.
The Funding Strategy Statement applies to all employers participating in the fund.
Pension Fund Governance and Communication Arrangements
Pension fund governance and communication arrangements - Statutory Instrument 2005/3199 requires local authorities to publish these arrangements by 1 April 2006.