You might be worried about the impact of COVID-19 on financial markets and what this means for your pension.
We’d like to reassure our members that a 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.
Check out a recent article in the Pensions Age magazine where EAPF’s David Williams was interviewed about how the fund and the fund administrators, Capita have had to adapt to the current pandemic.
Read the Pensions Age article