About the LGPS scheme

• a guaranteed pension based on your final pay at date of leaving or retiring and your period of membership up to 31 March 2014 and from 1 April 2014 a pension that equals 1/49th of your pensionable pay for every year added to your pension account plus inflation increases.
• the option to exchange part of your pension for a tax free lump sum
• life assurance of three times your yearly pay - expression of wish form (PDF - 118.57 KB)
• a pension for your wife, husband, civil partner or co-habiting partner and for dependant children should you die
• early payment of benefits if you are made redundant or retired on business efficiency grounds and you are aged 55 or over
• benefits at any age if you have to retire early because of permanent ill health which affects your ability to do your job
• the index-linking of benefits to ensure they keep pace with inflation

Costs

Your contributions rate depends on how much you're paid but it will be between 5.5 and 12.5% of your pensionable pay. The rate of pay depends on which pay band you fall into. The rate of pay depends on which pay band you fall into. Your rate will be based on the pensionable pay you actually earn. Please see the contributions factsheet for further information.