Opt Out Form

The Local Government Pension Scheme (LGPS) allows you to save while you are working in order to enjoy a pension once you retire. It is one of the best occupational pension schemes in the UK. The LGPS is provided by your employer who meets a large part of the cost of providing the range of secure benefits, so it is a valuable and important part of your employment package.

Whatever your reasons for opting out of the LGPS, you should give this matter careful consideration before making a final decision. You may wish to take financial advice before making a decision to opt out. If you are opting out of the LGPS due to advice you have received you should ask for this advice in writing.

Your employer cannot ask you or force you to opt out. If you are asked or forced to opt out you can tell The Pensions Regulator.

Benefits

The LGPS provides a package of benefits including:

  • A pension that is secure and backed by law
  • A Career Average pension with a guaranteed level of retirement benefit
  • Contribution Flexibility with the option to pay half the contribution for half the benefit (50/50 Section)
  • The option to exchange part of your pension for a tax-free lump sum on retirement
  • Voluntary retirement from age 55 (even though the scheme retirement age is State Pension Age or 65 if later)
  • An ill health pension from any age (which could be paid at an enhanced rate if ill health meant that you are incapable of gainful employment within three years of leaving)
  • Early payment of pension benefits if you are made redundant or retire on grounds of business efficiency at age 55 or over
  • The ability to take benefits from age 55 with your employer’s consent if you continue in employment, but reduce your hours or grade, helping you ease into retirement (Flexible Retirement)
  • A death in service lump sum of three times your actual pay
  • Protection for your family on death, including either a widow’s, widower’s, civil partner’s or cohabiting partner’s pension as well as children’s pensions
  • The index-linking of benefits to ensure they keep pace with the cost of living
  • The contributions you pay into the scheme attract tax relief

Some employers who participate in Staffordshire Pension Fund link their early retirement policies to membership of the LGPS, e.g. they may offer increased pension or one-off payments in certain circumstances to LGPS members.

Please read the Word Document Opt Out Notes (71 KB) and PDF Document A Short Guide to the Local Government Pension Scheme (751KB) before completing the form below.

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