Welcome to the East Riding Pension Fund

The East Riding Pension Fund, created following Local Government reorganisation in April 1996, administers the Local Government Pension Scheme (LGPS) for the four unitary Authorities in the region plus over 300 other local employers and organisations. It has a membership of more than 110,000 active, deferred and pensioner members.

Local pension board

Formed in 2015, the board plays a vital role in the Governance of ERPF and consists of both Scheme employer and member representatives.

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Investments and funding

This section contains ERPF report and accounts, voting policies and funding and investment strategy statements.

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Public sector exit cap information for LGPS employers and members

User AvatarPosted by Chris A Brown at 07/12/2020 16:19:04

The Government has introduced a cap on the amount of money a public sector employer can pay when an employee leaves their employment. It is called the public sector exit cap, or £95k cap. It applies to employees leaving public sector employments from 4 November 2020.

This may affect some members of the LGPS who retire on grounds of redundancy or business efficiency over the age of 55. Where the LGPS regulations allow for unreduced benefits to be paid to members in these events, this is now subject to this exit cap.

Employers have to pay strain costs to the scheme to allow for unreduced benefits, and this payment will be included when calculating the £95k cap.

If you are a member of the scheme and would like more information on this, please visit the following link: 

Public Sector Exit Cap - Member FAQs (external website)

 

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