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The newsbulletin for Pensioners of Merseyside Pension Fund

FlourishingCentenarians

Page 7

PensionPay Dates

Page 5

The FundAccount2008/2009 Page 3

SilverSurfersDay 2010 Page 4

Action againstGlobal Warming Page 2

Issue 5 / March 2010

Published by: Merseyside Pension Fund, 7th Floor, Castle Chambers 43 Castle Street, Liverpool L69 2NW T: 0151 242 1390Editor: Paul BrooksWebsite: www.mpfmembers.org.uk

This issue’sCompetition

Page 8

Your doorstep,your decision

Page 6

This April, there will be no increase to your local government pension. Each year, the Fund increases local government pensions in line with the Retail Prices Index (RPI) forthe preceding September. However, the RPI at 30 September 2009 was minus 1.4% - thefirst time in memory that a negative percentage had been recorded.

Despite this, your local governmentpension will not be reduced in April2010. Your pension will be protectedand remain at the same level that iscurrently in payment. You can keepfully up to date with your upcomingpension pay dates on page 5.

The Government has announcedthat it will increase the Basic StatePension by up to 2.5%. However,if your State Pension includes anyadditional elements, the increasemay not apply to them. Thevarious elements which make upyour State Pension, can be foundon the notification that you willreceive from the Department forWork & Pensions.

No increase to your localgovernment pension in 2010

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Fund calls for action against global warming

Ahead of last December’s climate change negotiations in Copenhagen, Merseyside PensionFund joined some of the world’s largest global investors in a call for strong action frominternational policy makers in the fight against global warming. Signed by 181 investors,including the Fund, the investor statement is the largest of its kind about climate change.

Chair of Merseyside Pension Fund, Councillor Ann McLachlan, explained: 'Workingwith like-minded investors on engagement activity is central to our approach and thisstatement is a key landmark in the fight against global warming. As one of the biggestschemes in the UK, Merseyside Pension Fund, and the financial services communityas a whole, has a critical role to play in supporting the emerging clean, green, lowcarbon economy.'

The investor statement called for the following elements to be included in a globalclimate change treaty.

Moving home

If you are one of the 5% of people in the UK who move home each year, it isvery important that you keep in touch. Informing us of a change, at least tendays before pay day will help to prevent any delays in payment of your pension.

Opening a new bank account

If you change the account into which we pay your pension, please can you tellus about it as soon as possible. Informing us of a change, at least ten days beforepay day will help to prevent any delays.

Your Pension payslips

The Fund does not normally send a payslip to you every month as, for the majority of pensioners, the amount paid each monthdoes not alter significantly. You will receive a pay advice when you first retire, thereafter you will receive one in April givingdetails of any pension increase, May including form P60, and in December. You will also receive a pay advice in any monthwhen your net pay varies by more than 25p from the previous month.

Useful to know in 2010

Councillor Ann McLachlan

• A global target for emissions reductions of 50-85% by 2050 (1990 baseline).

• Developed country emissions reduction targets of 80-95% by 2050 with interim targets of 25-40% by 2020backed up by effective national action plans.

• Developing country action plans that deliver measurable and verifiable emission reductions.

• Government support for energy efficient and low carbon technology.

• Measures that support the move to an effective global carbon market, including ambition caps, fair and efficientallocation of allowances and links between different trading schemes.

• Revisions to the Clean Development Mechanism to ensure real, permanent and verifiable emission reductions.

• Public financing mechanisms that leverage private sector finance for investment in developing countries.

• Measures to reduce deforestation and promote afforestation.

• Support for adaptation to unavoidable climate change impacts.

Signatories to the statement include financial institutions, state treasurers, controllers, pension fund leaders, assetmanagers and foundations worldwide. The Investor Forum was sponsored by the New York State Comptroller, Ceres, theEuropean Institutional Investors Group on Climate Change (IIGCC), the Investors Group on Climate Change (IGCC)Australia/New Zealand, the P8 Group, and United Nations Environment Programme Finance Initiative.

You can read the 2009 Investor Statement on the Urgent Need for a Global Agreement on Climate Change athttp://tinyurl.com/yfuhp6x

2009 2008£0 £0

Contributions and BenefitsContributions receivable 245,976 216,773Transfers in 18,436 21,168

264,412 237,941Benefits payable 212,476 195,130Leavers 15,121 13,764Administration Expenses 3,860 3,348

231,457 212,242Net additions from dealings with members 32,955 25,699

Return on InvestmentsInvestment income 71,212 71,505Change in market value of investments -833,021 -137,888Investment Management Expenses -4,982 -4,961

Net return on Investments -766,791 -71,344

Net increase (- decrease) in the Fund during the year -733,836 -45,645

Net Assets of the Fund at start of year 4,255,332 4,300,977

Net Assets of the Fund at end of year 3,521,496 4,255,332

Net Assets Statement as at 31 March 2009

2009 2008£0 £0

Investments Other Investments 264,580 216,073Equities 1,253,028 1,124,734Managed and Unitised Funds 1,668,255 2,434,630Derivative Contracts 130 0Properties 199,535 295,350Short Term Deposits 74,089 100,778Other Investment Balances 41,453 64,452

3,501,070 4,236,017Current Assets 30,412 27,463Current Liabilities 9,986 8,148

Net Assets of the Fund

as at 31 March 2009 3,521,496 4,255,332

Over the last year, the world’seconomic woes have dominated thenews. You will all have read andheard about the billions of poundsbeing wiped off the value of stocksand shares and of uncertainties in thepensions industry.

As pensioners of the LocalGovernment Pension Scheme (LGPS),you can rest assured that payment ofyour pension will remain unaffectedby the recent market turmoil.

The Fund invests in asset marketsacross the world. Consequently, it was not immune to the broadermarket environment, which sawpositive investment returns fromgovernment bonds and cash only.

In the financial year to 31 March2009, the Fund returned a negative17.7% on its investments, which werevalued at just over £3.5bn.

The average local authority fundreturned just under -20%. Over the longer term, the Fund has producedconsistently good investment returnswhich places it sixth place out of 87 localauthority funds over the last ten years.

Investment markets around the world have recently shown a recovery.By the end of September 2009, theFund’s total assets stood at £4.2bn.This marked a sharp improvement infortunes in a relatively short time.

As a fully funded pension scheme, employee and employercontributions are invested in a pool of globally diversified assetsincluding stocks and shares, bonds,property, and other alternativeinvestments such as venture capital,private equity and hedge funds.

By continuing to invest in a range ofdifferent assets throughout the world,the Fund seeks to maximise itsinvestment returns and control itsoverall level of risk.

Copies of the 2008/09 Annual Report and Accountsmay be requested from theFund on 0151 242 1387 or viewed at:www.tinyurl.com/yhgkdxn

Fund Account - for year ended 31 March 2009 3

Diane, from Cambridge, is helping her grandson withhis reading. He reads to her and she follows the textand prompts and corrects him as necessary. It’s aregular date and they both enjoy doing it.

Nothing strange about that – except that Diane livesin Cambridge, England, and her grandson lives nearCambridge, Massachusetts, USA.

They can bridge the miles thanks to the Internet,which allows any computer in the world to connect toanother. A small device called a webcam plugs into thecomputer, and lets them see and hear each other. Thenall they need is a copy of the same book each. Once thecomputers are bought and a small monthly fee is paid toconnect them to the Internet, they can talk for as long asthey like for nothing.

Diane is just one of millions of people who havefound that using a computer and the Internet helpsher to do the things that she wants to do to enjoy life.

Other retired people who use the Internet are Jim,from Andover, who finds the lyrics for music-hallsongs, which he performs to audiences in housingschemes and community centres and Judith, from St Albans, who has her own Internet diary, or blog, entitled “Not Dead Yet!”, where she shares her thoughts and corresponds with people from all over the world.

You don’t need to be that ambitious to enjoy life with the Internet. Les, from Liverpool, plays golf with Tiger Woodsand darts with the World Champion thanks to games on his computer, while Joan in London uses the Internet toorganise various trips for her community association and residents' groups.

However, while these people use the facilities that computers and the Internet provide, millions of other retiredpeople in Britain do not.

Why have over 6 million people over 65 never used the Internet? Cost is one factor; those retired people who do use the Internet tend to be better off. However, a new computer can nowbe bought for £300, and second-hand ones are cheaper, or even available free. The Internet connection costs as little as £9per month, or may be free as part of a package with a telephone or television service.

Another reason is that many older people think that computers can only be understood by the young and “you can’tteach an old dog new tricks”. But Judith first used a computer when she was 71, and many people in their 80’s and 90’shave learned to do so. One gentleman was doing a computer course when he was 100! It’s not difficult to master the basicskills that you need to make Internet telephone calls or look at “web sites” (computer pages that display text, pictures andmovies and let you do things like shopping, or simply enjoy reading or watching them.)

One of the main things that stop older people using computers and the Internet is that they don’t see how it wouldplay a worthwhile part in their lives.

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Silver Surfer’s Day - Friday May 21 2010

Silver Surfers’ Day is an annual campaign that is designed to give older people an opportunity to find out what using the Internet could do for them. All sorts of places, libraries, schools,community centres, housing schemes and offices, make their computers available and arrangefor people to be on hand to explain what to do, and give people the chance to try for themselves.

By Guest Contributor: Bob Holmes (Digital Unite)Bob Holmes is a tutor who helps older people learn to use computers and the Internet. He is amember of the Silver Surfers’ Day team at Digital Unite, which devised Silver Surfers’ Day and hasmanaged it since 2002. Silver Surfers’ Day is a part of Adult Learners’ Week.

In 2009 there were over a thousand Silver Surfers’ Day Events, inplaces from the Isles of Scilly to Peterhead in north east Scotland,and from Ramsgate, Kent to Ballymoney, Northern Ireland, andPenrhyndeudraeth, Gwynedd, Wales.

In 2010, Silver Surfers’ Day is on Friday 21 May, and there will beEvents during the weeks before and after. They will be publicisedlocally, but anyone can find Events near them by telephoning theNational Learning Advice Line number 0800 100 900 (freephone).

Or you can ask someone who has a computer to look at the websitehttp://tinyurl.com/o53ff2

Award-winning Silver Surfing on Merseyside In its annual Silver Surfer of the Year Awards in 2007, Digital Unite’s‘Event Holder of the Year’ category was won by Merseyside’s very own,Broadgreen International School. The school’s Silver Surfing community is made up of staff plus students, some of whom are in their 80s. It is now moving to its second generation of users, with the first generation passing on experience and wisdom.

What makes Silver Surfer Day unique?The school’s previous Silver Surfer days have been very successful inencouraging over 55's to get online. This has been aided by peermentoring from our current Silver Surfers on the day. They can help to put you at ease and explain how the course will help you get online.

We offer informal drop-in sessions throughout Silver Surfer Day. If you are a little nervous of new technology, you can come in and samplecomputers in a warm and friendly environment. Our sessions are very relaxed and tailored to your needs from the very start, with simpletyping techniques, mouse control games and exercises. This really helps build confidence and you will gradually become more and morefamiliar with the peripherals items of a computer.

The current classes have just been filmed for the BBC's popular 'WorkingLunch' television programme, which will be shown during March. Thebroadcast allowed our class to share their experiences of just how usingtechnology in general and the internet in particular, has really enhancedtheir lives. Hopefully their experiences will inspire many others to attendone of the courses offered to over 55's around Merseyside.

Our successful Silver Surfer Days in the last few years have led toclass numbers increasing significantly. There are currently over 40learners attending classes. In 2008, our friend Les, aged 88, finishedrunner-up in 'Silver Surfer of the Year'. In 2010, we hope toincorporate new technologies into the day. On offer will be classesin Nintendo DS Brain Training, Wii Fit, digital cameras, togetherwith our usual start up activities.

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Upcoming PensionPay Dates 2010

You must tell us about any change to yourbank or address details at least 10 days priorto the pay date. If you need to sort outproblems with your pension, please call

the Pensions Helpline on 0151 242 1391.

Wednesday March 10 2010

Friday April 9 2010

Monday May 10 2010

Thursday June 10 2010

Friday July 9 2010

Tuesday August 10 2010

Friday September 10 2010

By Guest Contributor: Joanna Moore(Broadgreen International SchoolCommunity Co-ordinator)

If you can join us on Friday 21 May 2010, you will find a lot ofencouragement and support from our current learners andtutors. For more information, please call 0151 254 6819 and askfor Joanna Moore.

Your doorstep‚ your decisionIn November of last year, the Office of Fair Trading (OFT) launched a national campaign aimed at preventing older people from fallingvictim to rogue doorstep sellers.

The campaign‚ called 'Your Doorstep‚ Your Decision'‚ encouragespeople to be cautious and talk to someone they trust before signing upfor expensive home improvement work from a doorstep trader. Itreminds consumers that seemingly irresistible or time-limited offersmay not be what they seem‚ and helps them to have the confidence tosay no to doorstep sellers.

What is doorstep selling?Doorstep selling is when someone sells you goods or services in yourhome or on your doorstep. It can be a convenient way to buy – butthere is a risk you may be pressured into buying something you do not want or that is not good value for money.

While most people who call at the door will be genuine‚ there wereover 7‚000 complaints to OFT about uninvited doorstep sellers in thefirst seven months of 2009 alone. Bogus sellers will try anything topersuade homeowners to part with their money. Consumers can bepressurised into buying something they don’t need‚ or a product that is shoddy in quality or poor value for money.

Think twice before you buyDoorstep sellers often use a range of high pressure tactics to persuadeyou to buy. If you feel under pressure to make a purchase, have theconfidence to say:

• you do not buy goods or services at the door

• you’d like more time to think about it

• you want to shop around and get other quotes

• you have to discuss it with someone else (for example, your partner or son/daughter).

Double check the facts• do you fully understand the total costs of the transaction -including estimates, delivery and installation?

• do you understand your rights if you sign a contract?

• do you know the arrangements for after-sales servicing, suchas the guarantees or warranties?

• Only once you are satisfied that the transaction is entirelyacceptable, should you agree to make a purchase.

More informationFor further information‚ you can download Age Concern’s freefactsheet 'Crime prevention for older people' athttp://tinyurl.com/ygvr739‚ or ring for your free paper copy on0800 00 99 66. For more advice on doorstep selling‚ you can contact Consumer Directat http://tinyurl.com/2mxgn9 or on 08454 04 05 06.

For more information on the OFT campaign‚ you can visit theirwebsite at http://tinyurl.com/yuork3 or on 08457 22 44 99.

The 08 Cardlives on...

Readers may recall that in March 2008, we featured the Free 08 Card – givingmembers money-saving offers onentertainment and travel throughout the2008 European Capital of Culture Year.Cardholders should note that all 08 cardsare still valid throughout 2010, regardlessof the expiry date shown on the back ofthe card.

Everyone on greater Merseyside is entitledto a free card and can benefit from thescheme. You can apply for your free 08card at http://tinyurl.com/ybfrz6g

If have lost your 08 Card you can apply for areplacement at http://tinyurl.com/ycasjg8Please make any enquiries about the 08 Card via the website quoted as notelephone number is available.

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Even though Japan, Franceand the United States leadthe field when it comes to the number of centenarians;British centenarians are also flourishing as figurespublished in January suggestthat the number of peopleaged 100 and over will almostdouble in the next decade.

While the number ofcentenarians will totalaround 12,000 next year,government projections from the Department forWork and Pensions show this will rise to about 22,000 by 2020, and to as high as280,000 by 2050.

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Flourishing Centenarians

JAMES McCUDDEN celebratedhis 100th birthday in September. A lifelong Everton supporter, Jameshas 3 children, 11 grand children,14 great grandchildren and 2 greatgreat grand children. Jamesattributes his longevity to alwaysbeing active - walking and cyclingeverywhere throughout his long life.

ANNIE ROBISON celebratedreaching her milestone in October.Annie has two nieces and herbeloved dog, Jake. Annie is a keenreader and helps keeps the coldweather at bay with the occasionalglass of sherry.

AGNES EVANS reached 100 in December.

EVELYN TOMBS reached 100 in January.

WILLIAM ROBERTS was 100in December. William now livesin Northumberland attributes hislong life to walking and maintaininghis good sense of humour.

Since our last issue five of our pensioner members have reached their one hundredthbirthday. The Fund expressed its warm congratulations to all of them on their special day.

Experts credit the rise of older populations in the west to a maturing of the baby-boom generation that followed theSecond World War. A US census bureau report in July concluded that the global number of people over 65 years of agewould double, from 506 million in 2008 to 1.3 billion in the next 30 years.

Britain's oldest twins, Betty Richards and Jenny Pelmore celebrated their 102nd birthday on New Year's Day with familyand friends in Cornwall. Others who reached 100 and beyond have included the Queen Mother, who died aged 101 in 2002,and Henry Allingham, the oldest surviving veteran of the First World War when he died, aged 113, in July last year.

For those lucky enough to reach their century, one highlight is a card from the Queen, and one every year after 105.Those who live long enough may also get to complain. Catherine Masters, then 109, from Oxfordshire, wrote to thepalace to complain that the outfit worn by the Queen in five successive cards was becoming repetitive.

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Competition – Winter Olympics Word Search

ALBERTVILLE NAGANOCALGARY OSLOCHAMONIX SALT LAKE CITYCORTINA SAPPOROGARMISCH SARAJEVOGRENOBLE SQUAW VALLEYINNSBRUCK ST MORITZLAKE PLACID TURINLILLEHAMMER VANCOUVER

Last month, the Olympic flame was lit in Vancouver to hail the opening of the 21st Winter Olympic Games. To be inthe draw to win £25 of high street vouchers simply send identify from the list above the current and 17 previous hostsof the Winter Games and send your completed puzzle entry to:Merseyside Pension Fund, The Honeypot Competition 5, P.O. Box 120, Liverpool, L69 2NW by 31 March 2010. The first correct entry drawn on 1 April 2010 will win. Please note entries are restricted to pensioners of theScheme. Employees of Merseyside Pension Fund and their relatives may not enter. Good Luck!

R J N A G A N O S I H G B W O I C A

U D X Z W P M J R O O V E J A R A S

P H Q I U O S L O Y S D M R L U Z Y

Z T G W N H G Z E U A E D E U Z A X

T E B M V O Q B F H L L B M X R F A

I B S X B K M P M H T B H M Y C M L

R Z Q S D C A A A D L O R A R C Y B

O T U A O O X O H D A N E H A G T E

M C A P K N K B T C K E V E G Z Z R

T B W P F C I Y G S E R U L L Z T T

S F V O E N U R V E C G O L A N T V

X I A R P V M R U G I P C I C O R I

Q N L O A U T I B T T V N L S A T L

C D L O G O G G G S Y V A P A B V L

V L E O S S J N P I N H V A C R D E

X E Y S A N I T R O C N L K K D Z C

F L A K E P L A C I D O I Y E J E C

C B X L F T U Q M U G A R M I S C H

Last issue’s competitionWe received a large number of correct entries for last issue’s competition, identifying thefollowing flowers:AMARYLLIS BLUEBELLS CROCUS DAFFODILS FORGETMENOTS GERANIUM HYACINTH IRIS JASMINE KNIPHOFIA LILY MARIGOLD NARCISSUS ORCHID POPPY QUEEN ANNES LACE ROSE SNOWDROPS TULIPS UMBRELLA PLANT VIOLETS WYSTERIA YUCCA ZINNIAThe first winning entry drawn was sent by Mr James Sorby of St Helens, shown right, whowon £25 of high street vouchers. Many Congratulations!

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