Fact Sheets and Further Information

On this page of your website we will publish Fact Sheets and Guidance covering specific issues of interest to members.

Lafarge Group Income Protection Plan (LGIP)

From 1 November 2011 contributing members of PensionBuilderplus who were actively at work on 31 October 2011, will be covered under the LGIP in the event of a sustained period of absence.
The LGIP fact sheet  provides an outline of the elegibility requirements and the benefit cover.

 

Cash or Pension Contribution Decision?

Final Pay members have been told that a £1200 pension contribution will be made on their behalf to their personal investment account in PensionBuilderplus. As an alternative some members may wish to consider receiving instead, a payment of £1000 in their January pay. A note has been prepared to help members consider the tax implications of their decision. See the Cash or Pension Contribution Decision document.

 

Closure of the Final Pay Section

From 31 October 2011, Lafarge has announced the Final Pay section of the Plan will close to future service accrual and members will join PensionBuilderplus. For more information see this letter to Final Pay Members.

 

Tax Free Cash Sum

As a member of PensionBuilderplus at retirement you may use your PensionBuilderplus pot to offset your tax free cash. See Here for examples of taking Final Pay tax free cash via PensionBuilderplus.

 

State Second Pension

As a member of PensionBuilderplus you will build up a State Second Pension. See Here for more details on the current State Second Pension.

 

State Pension Age

State Pension Age has been and continues to be the subject of much debate. See here for an explanation of current State Pension Age rules.

 

PCC - Consultation Update

Through out the Consultation period, the PCC has met and discussed the company's proposals.

See here for an update and summary of the work done by the PCC Elected Representatives to date 19 August 2011.

 

PenXchange

As a member of the Final Pay section, your pension contributions are collected via PenXchange. It is proposed that from the 1 November 2011 your pension contributions to PensionBuilderplus will also be collected via PenXchange. For more information see...here.

 

Roadshow Presentation

Following the announcement of the Company's Proposals a series of Roadshow presentations have been held throughout the businesses around the country.

Here are the slides that were used by the presenters, please remember that the slides are fairly brief and were delivered with a significant amount of detailed informatiom.

If a fuller explanation is required for the section that covers PensionBuilderplus, please call the Pensions Helpline (01306 872211)

 

Roadshow Presentation - Looking Ahead with PensionBuilderplus

Following the closure of the Final Pay Scheme, a series of Roadshow presentations have been held throughout the businesses around the country.

"Click HERE" for the slides that were used by the presenters, please remember that the slides are fairly brief and were delivered with a significant amount of detailed informatiom.

If a fuller explanation is required for the section that covers PensionBuilderplus, please call the Pensions Helpline (01306 872211)

 

Certificate...Surrender

The Final Pay section of the Lafarge UK Pension Plan is Contracted Out of the State Second Pension.

As we move from Contracted Out Final Pay, to Contracted In PensionBuilderplus from 1 November 2011, HMRC Regulations require that Lafarge must give notice of the surrender of the contracting out certificate.

The surrender notice can be read...here.

 

Redundancy - Questions and Answers

How do the pension proposals affect the current redundancy provisions?

There are no changes to employee's contractual redundancy terms under the pension proposal itself, although the pension calculations do change.

The exact provisions that apply to you depend on when you joined Lafarge (or a predecessor company) and which pension plan section you are in. Please click one of the four questions below that applies to you. If you are unsure which applies to you, please call the pensions helpline.

1Did you join Redland before April 1987 and were a staff employee at the time and are currently in the Final Pay Section?

In the event of redundancy, and if you are over the Minimum Retirement Age of 55, and are a contributing member of the pension plan, you are entitled to a pension based on full prospective service to your Normal Retirement Age without the application of early retirement reduction factors.

We will be writing to you seperately about how this entitlement would be calculated if the pension proposals proceed.

2Are you a staff employee who joined Redland or Lafarge after April 1987 but before August 2005, or were a non-staff Redland employee before 2005 and are currently in the Final Pay Section?

In the event of redundancy, and if you are over the Minimum Retirement Age of 55 and are a contributing member of the pension plan, you are entitled to a pension based on your accrued service without the application of early retirement reduction factors (i.e. the pension is based on service to date of leaving and the 4% pa early retirement reduction factors are waived).

If the pension proposals proceed, provided you meet the above criteria, you will be entitled to early payment of your deferred pension - that is, the pension you earned to 31 October 2011 increased in accordance with the Plan rules (broadly inflation with a maximum of 5% p.a.), to the date of redundancy and without the application of early retirement reduction factors.

You may also take the value of the Personal Investment Account you build in the PensionBuilderplus Section of the Plan.

3Did you join Lafarge after August 2005 and are currently in the Final Pay Section or are a member of PensionBuilderplus?

In the event of redundancy you are not entitled to any pension enhancement.

4Are you a former Blue Circle employee or are currently covered under the Way Ahead Agreement and are a member of the Final Pay Section of the Plan?

In the event of redundancy there is no contractual right to an enhanced pension but if you are over the minimum retirement age of 55 and are a contributing member of the pension plan, Lafarge Cement UK can, at its sole discretion, give consent to an enhanced pension. In the past we have, in our discretion, calculated this enhanced pension based on service to the date of leaving and waived early retirement reduction factors for the period between ages 60 and 65.

If the pension proposals proceed, (subject to our discretion to vary or cease to provide this discretionary entitlement), we may, on an indiviidual basis, consent to an enhanced pension on the basis of: the pension you earned to 31 October 2011 increased in accordance with the Plan rules (broadly inflation with a maximum of 5% p.a.), to the date of redundancy and without the application of early retirement reduction factors for the period between ages 60 and 65.

You may also take the value of the Personal Investment Account you build up in the PensionBuilderplus Section of the Plan.