The Local Government Pension Scheme (LGPS)
All our employees are eligible to join the 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 benefits provided by the LGPS are:
- A tax-free lump sum when you retire
- A pension based on your contributions
- 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
- Redundancy cover from age 55
- A death in service lump sum
- A widow’s, widower’s or civil partner’s pension
- Children’s pensions
- The index-linking of benefits to ensure that they keep pace with inflation
In addition, as a member of the LGPS, your contributions will be eligible for tax relief at the time they are deducted from your pay.