The county council rejected the claim and said that most of the pensions' cost was met by taxpayers nationally. Peninsula Peninsula Pensions is a shared service run by Devon County Council on behalf of the Devon and Somerset Pension Funds. - Credit: Terry Ife. 5. The Fund value as at 31st December 2020 stood at £4,923 million, an increase of around £330 million over the quarter. Pension Investment Team Corporate Core Oxfordshire County Council County … We look after the administrative needs of employers and scheme members of the LGPS, as well as the Police and Firefighters’ Pension Schemes for Avon and Somerset Constabulary and Gloucestershire Fire Service. The IIGCC has been developing a net-zero investment framework to help investors maximise the contribution they make in tackling climate change. County Hall. Peninsula Pensions is provided by Devon County Council and is a shared service with Somerset County Council. Net Asset Value of each partnership. The county council contributed more than £42m last year to pensions. You pay a contribution rate of: 50/50 Section contribution rate: 1: Up to £14,600: 5.5%: … The Government is also looking at the potential for mergers between current LGPS schemes. A healthy work-life balance is promoted through a range of flexible working options. Welcome to Peninsula Pensions 'Member Self Service' online pension portal ~ Peninsula Pensions is provided by Devon County Council and is a shared service with Somerset County Council We are responsible for administering the following: Local Government Pension Scheme ~ LGPS (Devon and Somerset Funds) / Firefighters Pension Schemes (Gloucestershire Fire) / Police Pension Schemes … Devon County Council, County Hall, Topsham Road, Exeter, Devon EX2 4QD. Devon County Council Pension Fund Funding Strategy Statement 4. 4. Devon County Council Pension Fund Funding Strategy Statement 4. If they've more than one LGPS employment, this is the maximum altogether. Your name. Hertfordshire County Council Pension Fund (“the Fund”) as at 31 March 2019 as required under Regulation 62 of the Local Government Pension Scheme Regulations 2013 (“the Regulations”). The Devon Pension Fund has pledged that its portfolio of investments will be net-zero by 2050 at the latest. Distributions made to Devon County Council Pension Fund to date by each individual partnership. All employees over the age of 16 and under age 75 are entitled to join the Local Government Pension Scheme. This calculator shows you how much your monthly pension contributions could add up to in retirement. Examples of income are earnings, self-employed earnings, tax credits, pensions, student grants/loans, Jobseeker's Allowance (contributions-based), Employment and Support Allowance (contributions-based). 7. Devon Pension Fund’s Pension Scheme Registration number is: 10079150 SWFI facilitates sovereign fund, pension, endowment, superannuation fund … The Devon Local Government Pension Scheme (LGPS) is managed by Devon County Council, who act as the administering authority, in accordance with regulations approved by Parliament. The Investment and Pension Fund Committee’s role is to approve the full Annual Report which contains the statement of Welcome to Peninsula Pensions 'Member Self Service' online pension portal ~ Peninsula Pensions is provided by Devon County Council and is a shared service with Somerset County Council We are responsible for administering the following: Local Government Pension Scheme ~ LGPS (Devon and Somerset Funds) / Firefighters Pension Schemes (Gloucestershire Fire) / Police Pension Schemes … -the Local Government Pension Scheme (Transitional Provisions, Savings and Amendment) Regulations 2014 [prefix TP] -the Local Government Pension Scheme (Administration) Regulations 2008 [prefix A] -the Local Government Pension Scheme (Benefits, Membership and Contributions) Regulations 2007 [prefix B] In a press release, Devon County Council also said the investment and pension fund committee had pledged to work with Brunel Pension Partnership to decarbonise all its current investments at a rate of 7% per annum and to increase … Sovereign Wealth Fund Institute (SWFI) is a global organization designed to study sovereign wealth funds, pensions, endowments, superannuation funds, family offices, central banks and other long-term institutional investors in the areas of investing, asset allocation, risk, governance, economics, policy, trade and other relevant issues. We’re lucky to live in one of the most beautiful parts of the country. The investment team will send a revised monthly contribution return form when the employer rate is due to change. Locally we have been working towards the establishment of a shared service with Somerset County Council for pensions administration. The hourly rate doesn’t include pension contributions … Important information ab 1.3 There has been collaborative working with Devon County Council in the preparation of this document. Devon Pension Fund Annual Report 2020; ... the objectives in setting employer contribution rates and the funding strategy that is adopted to meet those objectives. Devon County Council is among the UK’s top local authority fossil fuel investors despite the council declaring a climate emergency nearly two years ago and committing to becoming carbon neutral by 2050. It is responsible for administering the Local Government Pension Scheme (LGPS ) on behalf of Devon and Somerset County Councils and over 250 other employers throughout the counties; for example, District Councils, Colleges, Housing Associations, and so on. Your future. Working here, you will be well supported by a passionate team and friendly management. Devon LGPS is managed by Devon County Council as the administering authority, in accordance with regulations approved by Parliament. The day to day oversight is carried out by: Mark Gayler, Assistant County Treasurer – Investments Devon County Council, Topsham Road, Exeter. It has responsibility for schools, social care, highways, libraries, trading standards and employs 4,736 people plus 7,748 in the county’s schools. Introduction Devon County Council, based in Exeter, serves a population of approximately 800,000 in the non-metropolitan areas of the county. Public service pensions increase multiplier tables for each year. A report examining local authority staff pension fund investments has found that the Devon Local Government Pension Scheme, which is managed by Devon County Council, invests £157 million … This has been crucial in relation to the Plymouth Policy Area of the JLP in particular, where developer contributions will be sought by Devon County Councils and collected by South Hams Council for Together, we pride ourselves on providing a first-class service to employers and members that makes a real difference. The service comprises of three functional teams engaged in employer liaison and communications, technical support and training (including system support) and member services. Income Tax Calculator This calculator will provide an estimate of how much Income Tax and National Insurance you may pay, based on your earnings. It said Devon County Council is among the top 20 spenders in England on employees' pension contributions, which take £1 in every £5 of council tax. The Cornwall Pension Fund - Find out all about the fund if you are a current member, pensioner, preserved member or just thinking of joining . Our council chose to join the County Council pension scheme but it is expensive and also our precept is much higher than yours. Devon County Council, as the administering authority, pays benefits from a dedicated pension fund, which is separate from the County Council's … Oversight is the responsibility of the Investment and Pension Fund Committee supported by the County Treasurer. Introduction Devon County Council, based in Exeter, serves a population of approximately 800,000 in the non-metropolitan areas of the county. At Peninsula Pensions we provide a shared administration service for the Local Government Pension Scheme (LGPS) on behalf of Devon County Council and Somerset County Council. Think again. Devon County Council is responsible for the Devon LGPS Fund, which all contributions are paid into. Email this page to a friend. The work we carry out is interesting, varied and rewarding and there is a supportive culture between colleagues. Additional Voluntary Contributions (AVCs) are a form of investment which allows you to pay in extra to build up additional pension benefits. ×. Please tell us whether you accept cookies. To find out more about Additional Voluntary Contributions (AVCs) to your Local Government Pension Scheme (LGPS) and how they can benefit your retirement, select your LGPS and employer and find … To help us take you to the right area of our website, please tell us your Local Government Pension Scheme (LGPS) name. The Fund’s contracted-out reference is: E3900002R. Devon County Council Pension Fund Funding Strategy Statement 4. Date as of which all the above data was calculated. Ref exe 04-17 5978. The commitment means that Devon County Council Pension Fund is the first local authority pension scheme to invest in the REaLM Infrastructure Fund, which focuses on a range of projects across the UK. Net weekly income (once Income Tax, National Insurance and any personal pension are deducted) will be taken into account when calculating CTR. Some of the lower pensions will not attract the calibre of the clerk you may wish to have work for you. We have tools to help you estimate the tax you may pay based on your earnings and how much monthly pension contributions could add up to in retirement. Peninsula Pensions administers the LGPS for Devon County Council and the local district councils within Devon as well as over 200 other public sector employers. To find out more about Additional Voluntary Contributions (AVCs) to your Local Government Pension Scheme (LGPS) and how they can benefit your retirement, select your LGPS and employer and find out more. The REaLM suite of funds currently has combined commitments and assets under management of £1.6 billion with the Infrastructure Fund comprising £396 million of the total*. Your email. Pensions. The rate paid by Devon County Council includes allowances to cover holiday pay, employers and employee’s National Insurance contributions and pension contributions where required it will also include an allowance for sickness pay and you are therefore advised to retain a surplus in your Direct Payment account to ensure that such payments can be made, should your employee become unable to work through illness. Devon County Council is responsible for the Devon LGPS Fund, which all contributions are paid into. Welcome to Devon County Council's website, giving you access to a full range of council information and services. Think you know local government? Environment and Prosperity shows an overall underspend of just over £1 million and £1.2 million of the budget for a Pension Contribution … 3. At Peninsula Pensions we provide a shared administration service for the Local Government Pension Scheme (LGPS) on behalf of Devon County Council and Somerset County Council. The IIGCC has been developing a net-zero investment framework to help investors maximise the contribution they make in tackling climate change. EX2 4QD Tel: 01392 383000 and ask for Mark Gayler Email: mark.gayler@devon.gov.uk Public service pensions increases. Flexible. For every £1 of pension that you give up you will receive £12 tax free cash (subject to certain HMRC limits). Devon County Council pays benefits from a dedicated pension fund, kept separate from the County Council’s services budget. Both the scheme member and their employer pay into this fund in order to provide retirement benefits for the member once they retire. Devon County Council pays benefits from a dedicated pension fund, kept separate from the County Council’s services budget. The contributions paid into the scheme are invested in a variety of bonds and shares by the funds’ investment management team. 6. This is a career average defined benefit scheme administered by Peninsula Pensions (part of Devon County Council). County Council Streamlines Highly Complex Pension Returns with Pension Data Service. Contributions drawn down since inception. County Council accounts by the Devon County Council Audit Committee on 26 November. Inclusive. An option to convert pension to tax-free cash when you retire. We look after the administration needs of employers and scheme members of the Local Government Pension Scheme. Modern. The savings you build up with our chosen in-house AVC provider can be used to create a separate pension or lump sum, or a combination of both when you come to retire. We have been asked by Devon County Council, the Administering Authority for the Devon County Council Pension Fund (the Fund), to provide pensions information in respect of eligible employees who transferred their employment to Delt Services (the Employer) from other employers in … In response to question 1-6, please see the information available via the link below: Databases. Information Local Government Pension Scheme Content. My advice is put yourself in the clerks shoes - they have their own personal future to think about ie preparing for their own retirement. Whether you like the sea, the countryside or the city, find out why Devon is the place for you. Friend's name. The Dyfed Pension Fund, as administered by Carmarthenshire County Council, is one of many Local Authority Pension Funds throughout the UK that abide by the LGPS. Friend's email. Through these investments the fund can build up enough assets to cover any payments of scheme members’ retirement benefits. Act, which is likely to alter the way that the Devon Fund makes and scrutinises decisions. The administration of benefits for the Devon LGPS and the Somerset LGPS is managed by Peninsula Pensions. Funding objectives Contributions are paid to the Fund by Scheme members and the employing bodies to provide for the benefits which will become payable to Scheme members … Devon County Council Pension Fund (Devon LGPS) is a public pension fund based in Exeter, United Kingdom. Both the scheme member and their employer pay into this fund in order to provide retirement benefits for the member once they retire. They can buy the extra pension as a one-off lump sum or pay monthly. Cookies on the Cornwall Council website. County Council Streamlines Highly Complex Pension Returns with Pension Data Service. Mark Gayler, … The money is invested via Peninsula Pensions, provided by Devon County Council and Somerset Council. Find a job that makes a difference and contributes to your local community, and gives you the flexibility and support you need. APCs don't include survivors' pensions in the event of death. Skip to content. The Local Government Pension Scheme (LGPS) is a valuable part of the pay and reward package for employees working in local government or working for other employers participating in the Scheme. This is later than usual due to the extension of audit deadlines as a result of the pandemic. Your AVCs. The Devon Pension Fund administers the pension scheme for the majority of Devon’s public sector, including emergency services and Local Government. A reduction in the amount of tax you pay, as contributions are taken from your gross pay before the deduction of income tax. Contact that team direct if you have questions about the employer rate or the process for making the return. Welcome. Send Cancel. Resolutions body (town and parish council) ... 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