There may be certain occasions whilst you are a member of the Gwynedd Pension Fund when you are unable to work for different reasons.
This may be due to:
- Sickness Leave
- Maternity / Adoption / Paternity Leave
- Any other unpaid leave
Sickness leave
While you are on sickness leave, your pension remains unaffected. You will pay your normal contribution rate on any pay that you receive.
For any period that you receive less or no pay, we will use the Assumed Pensionable Pay (APP) supplied by your employer, which is the pay that you would have received for this period had you worked normally. This APP will be used to calculate your pension for this period.
Maternity, paternity and adoption leave
During a period of maternity, paternity or adoption leave, you will still pay your normal contribution rate on any pensionable pay that you receive (Statutory Maternity Pay, Contractual Maternity Pay, Statutory Adoption Pay). Your pension will be calculated using Assumed Pensionable Pay (APP) supplied by your employer, which is the pay that you would have received for this period had you worked normally.
During any period of unpaid leave, you will not pay pension contributions, ac no pension will be accrued. If you wish to buy-back the ‘lost’ pension, you can do so by paying an Additional Pension Contribution (APC) contract.
If you elect to pay an APC within 30 days of returning to work, the cost of the APC contract will be split 1/3rd to you and 2/3rds to your employer. If you elect to pay an APC after 30 days of returning to work, you will pay the whole cost of the APC contract. The pension you have lost will be calculated as 1/49th of the APP for the period of unpaid leave if you were in the main section of the scheme, and on a 1/98th basis if you were in the 50/50 section.
Any other unpaid leave
If you have been absent from work for one or more full days for any reason (including industrial action, jury service, reserve forces leave), you will not accrue any pension on the days you were absent, unless you pay extra contributions to negate that loss.
If you wish to buy-back the ‘lost’ pension, you can do so by paying an Additional Pension Contribution (APC) contract. The pension you have lost will be calculated as 1/49th of the APP for the period of unpaid leave if you were in the main section of the scheme, and on a 1/98th basis if you were in the 50/50 section.