Current Member Summary

 

You will find this section of the website useful if you have been in the scheme for more than 12 months, if not you may find our New Member Section helpful.

Reminder of scheme benefits:

• A choice of tax free lump sum when you retire
• An annual pension based on your service and final pay
• The ability to increase your pension by paying extra contributions
• Voluntary retirement from age 60
• Retirement from age 55 with your employer’s consent
• An ill health pension from any age
• A death in service lump sum of three times your final pay
• A widow’s, widower’s, civil partner’s or nominated co-habiting partner's pension
• Children’s pensions

How are your benefits calculated?

	Pension	Lump sum
Membership built up to 01 April 2008	Years and days service / 80 x final pensionable pay	Years and days service / 80 x final pensionable pay x 3
Membership built up after 01 April 2008	Years and days service / 60 x final pensionable pay	No automatic lump sum

   

You can use our Basic Pension Calculator to provide an example of potential benefits payable at age 65.

 

Annual Benefit Statement

Each year you will receive an annual benefit statement (ABS), detailing the pension benefits accrued to 31 March (based on your full time equivalent pensionable salary and actual working hours at 31 March).

 

Some members may have both current and former jobs and in these cases you will receive a statement for each job in which you have paid contributions to the pension scheme.

If you are purchasing any additional pension (for example Additional Regular Contributions ARCs), this will be reflected in the service up to 31 March on a pro-rated basis.

 

For Additional Voluntary Contributions (AVCs) you will receive a statement direct from your AVC Provider.

You should not make a decision to retire on the basis of information on the Annual Benefit statement. If you are thinking of retiring, please contact the Pensions Services for an individual estimate which will be tailored to your exact retirement date and will be calculated using your exact pensionable pay as at that date.

   

Transferring pension benefits into your active membership

All transfers into the pension scheme must be received within 12 months of starting the new period of pension membership.

However, if you have two active periods of membership in the Local Government Pension Scheme you cannot combine these records until you have left one of these positions. As long as you remain active in one of these roles, you can elect to combine these records within 12 months of leaving one of your roles.

There are lots of things you should consider before making this decision – you may therefore find the notes in our Starter Information and Membership Option Form useful.

  

What will my benefits be if I die in service?

• A lump sum death grant of three times your final pay . (Death grant 'expression of wish' form)
• A long term pension (if you have more than three months' total membership)
• A children’s pension for any eligible children

Full details of death in service benefits can be found in the employee’s guide.

You can find more information about life cover and protection for your family in LGPS look forward with confidence leaflet

 

Increasing your pension benefits

If you would like to increase your pension benefits payable on retirement, the options you can consider are:

• Additional Regular Contributions (ARCs)
• Additional Voluntary Contributions (AVCs)
• Additional Survivor Benefit Contributions (ASBCs)

The option to purchase an 'added years' contract is no longer available.  Existing 'added years' contracts at 1 April 2008 can continue, subject to the terms of each contract, unless the member chooses to stop paying them.