Annual benefits statements
Find out about annual benefits statements from your Islington Council Pension Fund including what they are, what they include and links to more guidance.
Pension benefit statements are issued annually to active and deferred members of the Local Government Pension Scheme (LGPS). 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 before your state retirement age.
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.
The 2024 statements do not include any additional benefits for the McCloud remedy. We are working with our software provider to update the pension administration system to reflect these scheme changes as quickly as possible but this will take some time.
Active members
Your employer at the end of each scheme year (1 April to 31 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. Read the annual benefit guidance notes.
If you are a protected active member, we will include information about how the McCloud remedy underpin might affect your pension in your 2025 annual benefit statement.
Deferred members
Your statement shows the current value (inclusive of index linking) of your deferred pension with Islington Council’s Pension Fund as at 8 April 2024. Read the deferred annual benefits statement guidance notes.
If you are a protected deferred member, we will include information about how the McCloud remedy underpin might affect your pension in your 2025 annual benefit statement.