What are the benefits of joining?

Thinking of Joining

Table of Contents

What are the benefits of joining?

What are the benefits of joining?

Members of the Local Government Pension Scheme (LGPS) receive an excellent range of benefits. The Scheme is set out in regulations and is very secure. As a Career Average Revalued Earnings (CARE), defined benefit pension scheme, the LGPS is considered to be one of the best pension schemes in the country.

A summary of the Benefits

  • A retirement pension payable for life;
  • A retirement pension that increases each year in line with the Consumer Prices Index (CPI);
  • An option to purchase additional tax-free cash by converting part of your annual pension;
  • An option to purchase additional annual pension
  • A death grant equal to three times your annual pensionable pay in the event of your death in service;
  • A pension payable to your husband, wife, cohabiting partner or civil partner in the event of your death;

  • Pensions payable to your eligible children;

  • A pension payable immediately if you retire due to permanent ill health;

  • Your employer contributes towards the cost of your pension;

  • You receive tax relief on your contributions - you pay less tax;

  • The option to decrease your monthly pension contribution.