Annual Benefits Statements
Pension Benefit Statements are issued annually to Active and Deferred members of the Local Government Pension Scheme. The statement gives you a summary of the estimated value of your pension but does not include any reductions that would apply if you were to take your pension benefits early, before your state retirement age.
The 2023 Statements do not include any additional benefits for the McCloud remedy. When final legislation is published by Government pension benefits will be adjusted as appropriate.
By understanding the value of your pension and how it is calculated, you will be able to make better informed decisions in relation to your financial planning for the future and your retirement income.
The guidance notes for the benefit statements provide additional information to help you understand how the Local Government Pension Scheme works.
Active Members
Your employer at the end of each scheme year (i.e. 1st April to 31st March) provides Islington Council’s Pension Fund with details of your pensionable pay. That information is used to update your Pension Account and to produce your annual benefit statement.
Annual Benefit Statement guidance notes
Deferred Members
Your statement shows the current value (inclusive of index linking) of your deferred pension with Islington Council’s Pension Fund as at 10 April 2023.
Deferred Annual Benefit Statement guidance notes