On this page:
- What are the changes to my Pension?
- Pension Increases
- Support and advice
- Other benefits
- Additional links
- Contact us
What are the changes to my Pension?
How was the incorrect payment identified?
In April 2016, the Government changed the way that future State Pensions would be calculated. Consequently, the Managers of all Public Sector Pension Schemes were asked to reconcile all data held for members of the Fund against that held by HMRC. The amount of GMP recorded by HMRC and the amount of GMP recorded by the Fund was compared and it has become apparent that the GMP applied to your pension at State Pension Age was incorrect and as a result your pension has been overpaid.
Why is my pension decreasing?
The Fund has paid you more Pensions Increase than you are entitled to under the Scheme Rules.
When will my pension change?
Your pension will change on the date stated in your letter. The letter also provides the new pension amount.
Will the Fund be reclaiming the overpayment?
The Nottinghamshire Pension Fund Committee has decided that the overpayment received in error will not be reclaimed as the error has not arisen through any action you have taken. However, the pension in payment will be reduced to the amount of pension you are entitled to. The Fund cannot continue to overpay your pension.
How has the change in my pension been calculated?
As part of the rectification exercise a calculation was undertaken to determine the current value of your pension using the GMP notified to us by HMRC.
The GMP notified by HMRC has been applied to the pension you were receiving at State Pension Age then Annual Pension Increases have been applied up to and including 8 April 2024 to calculate the correct pension due to you, the new amount is shown in the attached letter.
Pension increases
How does my pension increase and will my pension increase in the future?
Your pension will increase on the Monday of or following 6 April each year as follows:
The GMP is split into 2 elements:
Pre 88 GMP – increases to this element are paid by HMRC.
Post 88 GMP - increases to this element are paid by the Fund in line with Consumer Price Index (CPI) subject to a maximum of 3%. If the CPI is above 3%, HMRC will pay the additional increase.
Any other element of pension in payment is paid by the Fund and increases in line with the cost of living. CPI is effective as at September of the previous year. In September 2023, this was 6.7% and therefore 6.7% will be used for Pensions Increase this April.
Will I receive Pensions Increase in April this year?
Your April pension payment will be adjusted to take account of the GMP notified by HMRC. Pensions Increase will then be applied from 8 April, so your payment will include 7 days of the newly adjusted rate and 23 days of the adjusted rate with the additional 2024 Pension Increase applied.
Support and advice
Do I have the right to appeal against the change to my pension?
Legally the Fund must pay the amount of pension to which you are entitled under the Scheme Rules. If you are not satisfied with any decision made in relation to the Fund, you have the right to ask for it to be reviewed under the Internal Dispute Resolution Procedure, please see our website for more information www.nottspf.org.uk/resources/internal-dispute-resolution-procedure/
I am concerned about the decrease in my pension. Is there anywhere I can seek advice?
The Government offers a free guidance service for pensions advice. This is called MoneyHelper which has a specific section on pension problems.
www.moneyhelper.org.uk/en/pensions-and-retirement
www.moneyhelper.org.uk/en/pensions-and-retirement/pension-problems
You may choose to seek independent financial advice through the non-profit organization Unbiased, however it is likely you will need to pay for this service.
Unbiased is a website listing regulated and independent financial advisers, mortgage brokers, solicitors, and accountants. It checks that everyone is registered with the Financial Conduct Authority (FCA). For more information visit
Please note though that Nottinghamshire Pension Fund cannot give you Financial Advice.
Will this affect Pension Credit?
In some circumstances you may be eligible for Pension Credit. Additional guidance and information can be found on the following link.
www.ageuk.org.uk/information-advice/money-legal/benefits-entitlements/pension-credit/
Other benefits
I have other benefits in the Fund why are these not affected?
The GMP is only connected to the part of your pension accrued during membership of the Fund between 6 April 1978 and 5 April 1997. Any benefits accrued in the Fund before 6 April 1978 or after 5 April 1997 will remain unchanged.
I have another pension elsewhere; might this also be affected by the GMP issue?
It is possible that your other pension scheme(s) could be affected by GMP changes. Please contact your other pension scheme's administrator for information on this.
Additional links
If there are any technical words in this document that you’re unsure of, you can also look in our glossary of terms
Contact us
Email – gmpqueries@nottscc.gov.uk
Telephone – 0115 977 2727 - select option 0 for GMP related calls
Postal Address – Notts LG Pension Fund, Business Services Centre, Nottinghamshire County Council, County Hall, West Bridgford, Nottingham, NG2 7QP. Please mark your envelope with “GMP Query”.