The Bexley Pension Fund is considering maintaining its current policy of not reducing or suspending pension payments for staff who are re-employed after retirement. The Bexley Council Pensions Committee discussed the abatement policy review at their meeting on Tuesday, June 24, 2025.

Abatement, a mechanism for reducing or suspending pensions for re-employed individuals, has been a topic of review. Bexley's current policy, in place since March 1, 2020, was initially implemented to encourage recently retired health and social care staff to return to work during the COVID-19 pandemic without affecting their pension benefits.

The committee considered a report that provided background information on abatement, noting that it was mandatory before April 1998, discretionary until March 2014, and ceased with the introduction of the CARE scheme in April 2014. The report also highlighted that most London Boroughs have discontinued the practice of abating pensions upon re-employment.

The committee was asked to approve the current policy, namely that the London Borough of Bexley will not abate the pension in payment upon subsequent re-employment.

Other key items on the agenda included:

  • A quarterly administration report on the Bexley Pension fund, including updates on legislative changes and the performance of Local Pensions Partnership Administration (LPPA).
  • The 2025/26 Pension Fund Business Plan, which presents strategic objectives and a budget forecast.
  • CMA Investment Objectives for 2025/26, setting new targets for investment consultants.
  • A financial and fund management update for the period ending March 31, 2025.
  • A summary of the investment performance of the Bexley Pension Fund for the quarter ending March 31, 2025.
  • A discussion on investment beliefs and strategic asset allocation, with committee members asked to complete a survey by July 25, 2025.
  • Consideration of a request from London CIV for a cash contribution to meet regulatory capital requirements.
  • An update on the LGPS Pensions Review Outcomes and the final report on the Pensions Investment Review.

The Public reports pack provides further details on these topics.