Covid-19 -employment issues
We’re waiting for some guidance from the Local Government Association (LGA) about how furloughed workers, enforced unpaid leave and staff transferred to the NHS will affect LGPS members. We’ll let you know when this is available. If any of these circumstances are affecting your scheme members, please get in touch. We've reassured members about the security of their LGPS benefits by issuing the following statement:
"We want to remind our members that the Local Government Pension Scheme (LGPS) is a defined benefit pension and is not linked to stock market changes or performance of investments. Benefits are set out in law. Although short term investment values may change, the LGPS as a long-term investor is securely managed to address any longer term impacts such as affects of the coronavirus.
LGPS members can be sure that their pension, whether in payment or still building up, will be unaffected."
If you could help us get the message to staff by putting it on your intranet, this would be much appreciated.