The Scheme Advisory Board (SAB) to England and Wales recently published a message about the fall in stock markets and the LGPS.
We’d like to reassure our members that the fall in stock markets will not affect the value of your defined EAPF benefits in the LGPS.
As the EAPF is a ‘Defined benefit’ pension scheme, the pension which you build up is based on your service and salary earned.
The amount of pension you receive is not based on the performance of the stock market or share prices, and your employer pays in whatever they need to make sure you receive the guaranteed pension that was promised to you.
You can view the full update on the SAB website.