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DEFERRED MEMBERS' NEWS ARCHIVE 2009

DECEMBER
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THE FUND has revised Fact Sheet 2 in its series of guidance notes for LGPS members. Fact Sheet 2 explains the HM Revenue and Customs (HMRC) rules that govern pension savings.
THE LGPS (MISCELLANEOUS) REGULATIONS 2009 have now been made under powers contained in section 7, 12 and 24 of the Superannuation Act 1972. The new regulations come into force on 31 December 2009.
THE LGPS (MANAGEMENT AND INVESTMENT OF FUNDS) REGULATIONS 2009 have now been made under powers contained in section 7 of the Superannuation Act 1972. These new regulations come into force on 1 January 2010.
NOVEMBER
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In August, the Fund launched a consultation with all employers about the draft version of its new Pensions Administration Strategy (PAS).The PAS was duly ratified at the November meeting of Pensions Committee and is now in operation.
OCTOBER
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Merseyside Pension Fund has published its Report & Accounts for the Year 2008/09. The Fund reports that notwithstanding the most difficult market conditions for 35 years, its long-term investment performance continues to remain strong.
Post StrikePostal Strike
Due to industrial action there will be disruption to Royal Mail postal services between Thursday October 29 and Saturday October 31 2009. Anyone who needs to send information to the Fund or are expecting correspondence from the Fund should be aware of the delays that this may cause.
The Fund has posted 2009 Annual Benefit Statements to members who have either left their benefits behind on taking a job outside Local Government or elected to keep their benefits separate upon starting a new scheme membership whilst still employed in Local Government.
After consultation with all relevant interested parties and in accordance with The Local Government Pension Scheme (England and Wales) (Amendment) Regulations 2004, the Fund has published its 2009 Funding Strategy Statement (FSS).
SEPTEMBER
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THE FUND explains its policy towards performance-related payments to Investment Managers.
MERSEYSIDE PENSION FUND has joined some of the world’s largest global investors in a call for strong action from international policy makers in the fight against global warming.
AUGUST
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THE FUND has published the 2009 edition of its 'Planning your Retirement' guide for LGPS members who are approaching retirement.
JULY
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THE FUND ACTUARY, Mercer, has published a document discussing the key issues emerging from the pensions, benefits and savings measures contained in the Finance Act 2009 given Royal Assent last week.
THE FUND has revised Fact Sheet 1 in its series of guidance notes for LGPS members. Fact Sheet 1 is intended for those whose level of pay is reduced by reasons other than a change in the hours worked.
JUNE
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You can now view an updated video giving an overview of the Local Government Pension Scheme. The video contains full details of the Scheme's wide range of benefits, together with full details of how much you pay in contributions from 1 April 2009.

THE FUND has published a new version of it's Brief Guide to the Local Government Pension Scheme for active members of the Scheme.
MAY
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THE FUND has been ranked fourth in an examination of the responsible investment policy, practice and transparency of the UK’s largest occupational schemes by FairPensions.
 
DCLG has laid new Amendment Regulations before Parliament.
APRIL
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THE FUND has published an updated Governance Compliance Statement.
THE FUND has published its 2009 Communications Policy.
MARCH
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THE FUND has published a short paper produced by the Fund Actuary, Mercer, which provides additional background commentary on the Quantitative Easing (QE) policy announced recently by the Bank of England, and its impact on pension schemes.
 
MERSEYSIDE PENSION FUND has joined with other investors, including North Yorkshire County Council Pension Fund, in litigation action against the Royal Bank of Scotland.
FEBRUARY
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IN ACCORDANCE with the Statement of Investment Principles, the Fund voted on all of its internally managed UK and European equity holdings, in accordance with the recommendations provided by our consultant PIRC Ltd.
 
THE FUND has published its Top 100 holdings by market value as at 31 December 2008.
THE FUND was featured in the recent Channel 4 programme 'Chickens, Hugh and Tesco Too' as a supporter of the campaign by popular TV chef Hugh Fearnley-Whittingstall to improve the basic welfare standards of chickens sold by the retailer.
JANUARY
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THE GOVERNMENT has responded to the Parliamentary Ombudsman’s Report into the prudential regulation of the Equitable Life Assurance Society from 1988 to December 2001.
THE DEPARTMENT FOR COMMUNITIES AND LOCAL GOVERNMENT (DCLG) has published Regulations made on 16 December 2008 under powers contained in sections 7 and 12 of the Superannuation Act 1972 and laid before Parliament on 23 December 2008.