Author Topic: Council Pensions.  (Read 190 times)

brian54

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Council Pensions.
« on: Jun 04, 2019, 12:16:13 PM »
I was shown a Benefit Statement today which gave the figures for an employees pension from the West Midlands Pension Fund,
Why is it called a Benefits Statement?. This person paid for his pension.
I just got a letter detailing my redundancy money and pension and was told to get out. No mention of benefits.
My pension has been honoured.

StephenM123

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Re: Council Pensions.
« Reply #1 on: Jun 04, 2019, 01:08:55 PM »


A defined benefit   pension plan   is a type of    pension plan   in which an employer/sponsor promises a specified    pension   payment, lump-sum (or combination thereof) on    retirement  that is predetermined by a formula based on the employee's earnings history, tenure of service and age, rather than depending directly on individual ...  

   
So a pension is a benefit according to definition.  

Ashy

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Re: Council Pensions.
« Reply #2 on: Jun 04, 2019, 02:05:47 PM »
It is the benefit of the scheme, it would also have contributions like the HSA.