News
Fund featured in new 'Purposeful Pensions' documentary series (February 2023)
A new documentary series about 'Purposeful Pensions' released this week by the Pensions Management Institute (PMI) includes a section dedicated to West Midlands Pension Fund. The four-minute film covers how we go the extra mile to engage members at every stage of their working life, catalyse positive ESG impacts and create an inclusive and opportunity-rich working environment.
It includes our unique and award-winning Roadshow Bus, part of our strategy to help people make the right choices at the right time throughout their working life through to retirement, and an interview with Fund member Sharon Campion about how the Fund always provided simple, helpful information so she could understand and feel safe about the choices she made for her retirement.
It showcases the fantastic career opportunities here at the Fund, our inclusive and opportunity-rich working environment, how we catalyse positive ESG (Environmental, Social and Governance) impacts and some of the many examples where the Fund's actions and investments have enabled positive outcomes.
Rachel Brothwood, Executive Director of Pensions, Shiventa Sivanesan, Assistant Director, Investment Management and Stewardship and Simon Taylor, Assistant Director, Pensions also give interviews. You can watch the documentary episode below:
The documentary will be shown at The PMI's ESG Seminar and other associated events and is being sent to all PMI members, helping to communicate the positive impact pensions can have on society, the environment and the economy as a whole - and West Midlands Pension Fund's work building a sustainable future for all.
Climate Strategy Framework (October 2021)
Today we launch our latest Climate Strategy Framework with a pledge to align with the goals of the Paris Agreement net zero ambition by 2050 or sooner.
Climate change is an existential threat and the defining issue of modern time. It is harming livelihoods and societies, threatening future food security and water availability, and having a detrimental impact upon local and global economies alike. As a Fund we are committed to playing our part in driving down emissions and investing in solutions that directly contribute to and financially benefit from the transition to a net zero future.
Over the next five years to 2026 we will:
- Refine metrics to measure progress and alignment towards 2050 net zero and our interim targets
- Further reduce our investment portfolio and operational carbon emissions
- Continue to explore opportunities to invest in aligned products and those focused on climate solutions
- Collect, measure and track our operational and investment portfolio emissions data and look for areas where we can seek to make reductions
- Engage governments, companies and investors to ensure disclosure, action and alignment to net zero pathways throughout value chains
- Collaborate to influence positive change and drive meaningful action on a global scale.
We have set our targets and written our climate strategy with all of our stakeholders in mind. We know that the journey ahead will not be easy, but the value of the end goal is immense: a liveable climate and planet for all.
Read more about what this means for the West Midlands Pension Fund via the link below.
https://www.wmpfonline.com/CHttpHandler.ashx?id=17912&p=0
.jpg "Pensions Age Award 2021")
Pensions Age Award 2021
The West Midlands Pension Fund has been named a winner of a prestigious Pensions Age Award for having the best "Pensions Marketing Campaign of the Year" across the whole pensions industry for 2021. (July 2021)
With stiff competition across the pensions industry, the Fund was short listed for two awards earlier in the year in the categories of "Pensions Administration" and "Pensions Marketing Campaign of the Year". On 15th July the Fund was delighted to hear they had won the Pensions Marketing Campaign of the Year award against 10 other pension scheme providers.
Spearheaded by the Fund's Member Services team, the submission was built on the Fund's Retirement Planning Campaign which proactively targets members on their 55th birthday. The campaign aims to offer individual support, access to webinars and to a retirement planning toolkit to encourage members to interact with their benefits early, enabling them to plan for the future.
If you need any assistance with your pension benefits please feel free to get in touch with the Fund by clicking this link.
West Midlands Pension Fund joins 'national conversation' on retirement planning (May 2021)
Please click here to read this press release
Information for Customers - Public Sector Exit Cap (February 2021)
Following the Government's announcement on Friday 12th February 2021, the Public Sector Exit Payments Regulations 2020 which introduced a £95k cap on public sector exit payments will now be revoked. This means the exit cap no longer applies with effect from 12th February 2021. From this date, if you lose your job because of redundancy or business efficiency, provided you are aged 55 or over and you meet the 2 year vesting period, your LGPS retirement benefits are payable immediately without any early retirement reductions.
West Midlands Pension Fund has achieved The Pension Administration Standards Association (PASA) accreditation
We are proud to announce that the West Midlands Pension Fund has achieved The Pension Administration Standards Association (PASA) accreditation.
The West Midlands Pension Fund is the first LGPS Fund in England & Wales to achieve the PASA standard for the quality for our pension administration.
The accreditation is a reflection of working to best practice standards and having the correct controls and procedures in place, along with gathering feedback, looking and trends and performance and investing in our staff.
We would like to thank PASA for supporting us through this achievement.
Information for Customers - Covid19 (April 2020)
Please click here to read this article
Changes to survivor's benefits for same-sex husbands, wives and civil partners (June 2019)
A change has been made as a result of a Supreme Court judgment (Walker v Innospec) which found that Mr Walker's husband was entitled to the same benefits that would have been paid if Mr Walker had died and left a widow in an opposite-sex marriage.
Why does this apply to the LGPS?
The government believes that the implication of this judgment for all public-service pension schemes, including the LGPS, is that surviving civil partners or surviving same-sex husbands or wives should receive benefits equal to those that would be left to the widow of a male member of the scheme.
When does the change take effect from?
The change is backdated to the date that civil partnerships and same-sex marriages were introduced. This is 5 December 2005 for civil partnerships and 13 March 2014 for same-sex marriages.
This means that if a member of the LGPS has died leaving a surviving civil partner or a same-sex husband or wife, the survivor's pension will need to be reviewed and any extra amounts paid, if this applies. We are currently reviewing the effect of this change and will tell you if it applies to you.
The change will automatically be taken into account in survivors' benefits paid to civil partners and same-sex husbands and wives in the future.
Updates to Scheme Actuarial Factors (October 2018)
The Fund has been made aware that the Scheme's actuarial factors are to be revised. We will keep you informed of any changes through this web page.
Annual Benefit Statements 2018 (August 2018)
Annual Benefit Statements are currently being uploaded to the Pensions Portal so "Be Pension Smart" and check your Pensions Portal account today! This year, the Fund has implemented a rolling benefit statement production to maximise the number of statements we produce. Visit our Annual Benefit Statement page for more information.
New 'Be Pension Smart' video for contributing members (August 2018)
If you are actively contributing to the scheme, please click here to find out how you can be pension smart.
Updates to the LGPS for active and deferred members (Disclosure Update July 2018)
If you are actively contributing to the scheme or you have a deferred pension benefit, there have been some updates to the LGPS.
For more information on these updates, please select the relevant link below:
Deferred Member Disclosure Update 2018 [375kb]
Active Member Disclosure Update 2018 [377kb]
New Pensions Portal Guidance & Support page (July 2018)
Click here for Portal Guides, videos and FAQs
Portal Guide Image
The Fund has launched a new-look Pensions Portal (August 2017)
My Pensions Portal
