North East Scotland Pension Fund

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Thinking of Joining

People are living longer and spending more time in retirement. With the State Pension only providing a basic level of income (a maximum of £8,767.20 per year) people need to save more and plan ahead to get the retirement they want. With the Local Government Pension Scheme (LGPS) you have a head start.

 

Why join the Local Government Pension Scheme?

The LGPS is one of the best ways to plan for your future and has an excellent range of benefits including:

  • A secure pension underwritten by Government meaning your pension is guaranteed by law
  • You don't need to worry about making investment decisions. Your pension isn't based on the economy or investment returns, it simply builds up each year based on how much you earn  
  • Your employer pays in too, covering around 2/3rds of the cost of your pension
  • You will pay less tax, as your pay is taxed after your contributions have been deducted
  • Pensions are available for a spouse, civil partner or eligible co-habiting partner and any eligible children in the event of your death
  • Lump sum of 3 x salary should you die in service
  • Options to pay more or less, you can boost your pension by paying more or if you need to, you can reduce your contributions
  • Option to convert some of your pension for a tax free cash lump sum when you retire
  • A guaranteed income in retirement which is payable for life
  • A pension which increases to keep up with the cost of living - so as the price of goods increases, so too does your pension
  • Options for early retirement from age 55 
  • Ill health retirement, if at any age you are unable to work due to ill health
  • Flexible and redundancy & efficiency retirements are available too

 

More information

You can find out more about how to join, the costs and how your pension is worked out in the menu opposite.

For more specific details on the types of retirement available, transferring in other pension benefits and death benefits see our Active Members area.