Scheme members
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- Active members - are currently contributing to the Local Government Pension Scheme.
- Deferred members - have contributed to the Local Government Pension Scheme previously.
Visit the deferred members pages
Active scheme members
The main benefits of the LGPS are:
- A secure pension, payable for life.
- Flexible lump sum options (provided to you at your retirement).
- Tax-efficient savings and lower National Insurance contributions.
- Employer contribution - your employer pays whatever amount is necessary to ensure that your benefits are properly funded.
- Early retirement - 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, if you are made redundant, retired on grounds of efficiency, or with your employer's consent.
- Death cover - in the event of your death while contributing a pension would be payable to your surviving eligible children and or spouse / civil partner / nominated cohabiting partner (if you were a contributing member on or after 1 April 2008 and have completed a valid cohabiting partner nomination form).
- If you ever become seriously ill, you could receive immediate ill-health benefits.
- Options to increase your pension by paying additional contributions. These additional contributions also attract tax relief.
Employee contribution bands
| Band | Pensionable/full time equivalent pay (p.a.)* | Contribution rate |
|---|---|---|
| 1 | £0 to £13,500 | 5.5% |
| 2 | £13,501 to £15,800 | 5.8% |
| 3 | £15,801 to £20,400 | 5.9% |
| 4 | £20,401 to £34,000 | 6.5% |
| 5 | £34,001 to £45,500 | 6.8% |
| 6 | £45,501 to £85,300 | 7.2% |
| 7 | More than £85,300 | 7.5% |
| Band | Pensionable/full time equivalent pay (p.a.)* | Contribution rate |
|---|---|---|
| 1 | £0 to £12,900 | 5.5% |
| 2 | £12,901 to £15,100 | 5.8% |
| 3 | £15,101 to £19,400 | 5.9% |
| 4 | £19,401 to £32,400 | 6.5% |
| 5 | £32,401 to £43,300 | 6.8% |
| 6 | £43,301 to £81,100 | 7.2% |
| 7 | More than £81,100 | 7.5% |
* Band ranges will increase each April in line with the Consumer Price Index.
The 5% LGPS contribution rate of pre-1998 manual workers will be phased out over 3 years from 2008. The phased rates will be 5.5% from 1 April 2009; 6.5% or (if lower) the relevant rate from the pay band table from 1 April 2010 and from 1 April 2011 the relevant rate from the pay band table.
For more information call 01296 383755 or email pensions@buckscc.gov.uk
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