Retired & Dependant Members
Receiving a pension
Whether you are an ex member of the Local Government Pension Scheme, or receive a pensionable income as a surviving spouse or child, you will receive an income from the Clwyd Pension Fund.
Either way, your Annual Pension will be paid into your chosen Bank or Building Society account in 12 monthly instalments. Pensions are normally paid on 28th of each month. Where the 28th is a Saturday or Sunday (or a Bank Holiday) payment will be made on the Friday before, whilst Decembers pay shall be earlier due to Christmas.
We will send you your first pension pay advice slip when your pension is paid for the first time and you have, following this details of each payment will only be sent to you if your net monthly pension changes by £5 or more.
Changes are likely to occur each April when the annual Pensions Increase is applied to your pension and again possibly in May or June when any new tax codes are applied.
Pensions Increase for 2018 is 3%
Your annual pension is reviewed each April, so that it reflects the cost of living. The amount of Pensions Increase is based on an index specified by the Government.
Pensions Increase is currently based on the change in the Consumer Prices Index in the 12 month period up to the end of the previous September.
Please note that you will only receive the full increase if your pension began on or before 25th April 2017, if not, the increase on your pension will be pro-rated as per the table below:
|On or before 25/04/2017||3.00%|
|26/04/2017 - 25/05/2017||2.75%|
|26/05/2017 - 25/06/2017||2.50%|
|26/06/2017 - 25/07/2017||2.25%|
|26/07/2017 - 25/08/2017||2.00%|
|26/08/2017 - 25/09/2017||1.75%|
|26/09/2017 - 25/10/2017||1.50%|
|26/10/2017 - 25/11/2017||1.25%|
|26/11/2017 - 25/12/2017||1.00%|
|26/12/2017 - 25/01/2018||0.75%|
|26/01/2018 - 25/02/2018||0.50%|
|26/02/2018 - 25/03/2018||0.25%|