Thinking of joining?
- The LGPS is a valuable part of the pay and reward package for employees of local government and other participating employers.
- It is heavily subsidised by your employer and is often viewed as one of the most valuable financial rewards of the job.
- Membership is normally automatic for permanent employees under age 75.
Check your payslip to see if you are paying in and if not, contact your employer to see if you can join.
The main benefits of the LGPS
- A secure pension, payable for life.
- Flexible lump sum options (provided to you at your retirement).
- Low cost - most people enjoy tax-efficient savings while contributing to the LGPS. Members contribute between 5.5% and 12.5% of their pay, depending on their pensionable pay.
- Employer contribution - your employer pays whatever amount is necessary to ensure that your benefits are properly funded.
- Freedom to choose when to take your pension - your pension is usually payable from your normal pension age, which is linked to your State Pension age. You can choose to retire and take your pension at any time between the age of 55 and 75. If you choose to take your pension before your normal pension age it will normally be reduced, as it's being paid earlier. If you take it later than your normal pension age it will be increased because it's being paid later.
- Peace of mind - in the event of your death while contributing, your family have financial security as a pension would be payable to your surviving spouse / civil partner, eligible children and, if you were a contributing member on or after 1 April 2008, for a cohabiting partner. If you ever become seriously ill, you could receive immediate ill-health benefits.
- Options to pay extra - you can top-up your pension by paying additional contributions. These additional contributions also attract tax relief.
- Options to pay less - you can choose to pay half your normal contributions in return for half your normal pension. This is known as the 50/50 section of the scheme and is designed to help members stay in the scheme when times are financially tough.
- You can manage your pension online - 'My pension online' gives you 24 hour access to your LGPS pension record. You can produce your own retirement quotes and view/update your personal details, such as your home or email address and death grant nomination.
Visit our guides, forms and booklets page for more detailed information on the LGPS, the 50/50 scheme, transferring previous pension benefits into the LGPS, the Opt In form and much more.
Disclaimer: Nothing on these pages or the LGPS UK National website can override the provisions of the Local Government Pension Scheme Regulations. Nothing on either site should be construed as being more than a guide. Your employer together with us, as Administering Authority of the Buckinghamshire County Council Pension Fund, will use the scheme regulations to reach any decision should a dispute arise.