Employer

Section 9 - LGPS monthly contribution payments and returns

Monthly returns

Pension fund contributions, for employees and employers, should be paid by BACS (or any other form of electronic payment) and funds must be cleared no later than the 19th of the following month.

Payment is to be made to:

Account name: London Borough of Southwark
Sort code: 51-50-03
Account number: 27540006
Quoting reference: F5/20158

Monthly contribution form: please send a copy of the spreadsheet to Southwark Pension Services via post it to them using their address.

Please note that delays in payment and/or the provision of the schedule, may result in a late payment fee being levied against you. Read the Fund’s Pension Administration Strategy (PAS) for further details.

Each year you must provide us with details of the pension contributions paid by each of your employees who were members of the Scheme, at any time in the Scheme year, which runs from 1 April to 31 March.

Southwark Pension Services will require details of each member’s working hours and full-time equivalent Pensionable Pay as at the 31 March, along with confirmation of the actual Pensionable Pay (as defined under the CARE scheme 2014) for the Scheme year. Read Section 10 – Guidance on Career Average Revalued Earnings (CARE) pay for more.

A spreadsheet template will be provided to you to check and update, so that we obtain the correct information – it is vital this is correct, as Southwark Pension Services will use it to calculate benefits to publish on the member’s Annual Benefit Statements (ABS).

Full details of the year-end process, timescales and data requirements will be sent to you in February each year. If you require assistance or more information on the process, please contact Southwark Pension Services by:

Telephone: 020 7525 4924

Email: lbspensions@southwark.gov.uk