The Local Government Pension Scheme (LGPS) is a statutory, funded pension scheme. As such it is very secure because its benefits are defined and set out in law.
Highlights of the LGPS are:
A secure pension
The benefits you get when you retire are based on your membership in the Scheme and, normally, on your final year's pay. This will change from 2014 when a new scheme is introduced based on career average pay. The pension you build up during your employment keeps pace with your pay rises. And after you retire, your pension keeps pace with cost of living increases.
You also have the option to exchange part of your pension for some tax-free cash on your retirement.
Peace of mind
Your family enjoys financial security, with immediate life cover and a pension for your husband, wife, civil partner or nominated co-habiting partner and eligible children, in the event of your death and, if you ever become seriously ill, you could receive immediate ill-health benefits.
You can choose to retire from age 60 and receive your benefits immediately, although they may be reduced for early payment. It's also possible to retire from age 55 and receive your benefits immediately, either with your employer's consent or if you are made redundant or retired in the interests of efficiency.
If you reduce your hours or move to a less senior position at or after age 55 you can, provided your employer agrees, draw some or all of the benefits you have built up - helping you ease into retirement - although your benefits may be reduced for early payment.
Options to pay extra
You can boost your pension by paying more contributions. You get tax relief on these, too.
Also, as a member of the LGPS, your contributions will attract tax relief at the time they are deducted from your pay and, up to State pension age, you will also pay lower National Insurance contributions on earnings between the Lower and Upper Earnings Limits, unless you have opted to pay the married woman's/widow's reduced rate of National Insurance.
The LGPS is contracted-out of the State Second Pension (S2P).
For further information, please see our scheme guide:
Pension Scheme - Brief Guide (741 KB)
Pension Scheme - Full Guide (1.81 MB)
New employees are normally automatically admitted to the scheme, if you are an existing employee and subject to any entry restrictions, you decide that you would like to join the scheme please print, complete and return the form below:
Election to join LGPS - PEN 3 PDF (257 KB)
Alternatively you can submit your election to join by e-mail. Please complete the Microsoft Word document below and save it as a new document on your computer:
Election to join LGPS - PEN 3 Word (113 KB)
Once completed please attach it to an e-mail and send it to Pension Services, e-mail address below:
NB Information sent by this method is not encrypted
On receipt we will forward your election directly to your employer's payroll department.
that in all cases membership cannot commence until the first day of the pay period following receipt of your election.