There has been a lot of disturbing news lately about the fall in stock markets and the potential impact this could have on defined contribution pensions.
Local Government Pension Scheme (LGPS) defined benefit pensions (such as West Yorkshire Pension fund) are not linked to stock market performance and are set out in statute.
Although short term investment values may vary, the LGPS as a long-term investor is securely managed to address any longer term impacts.
LGPS Scheme members can therefore be assured that both their contributions and their pension, whether in payment or built up to date, will be unaffected.
More information is available on the
West Yorkshire Pension Fund website.