Your Pension For Life

Joining the LGPS (Local Government Pension Scheme) can be one of the best ways to safeguard your future while saving for your retirement. Not only does the LGPS offer a secure pension, guaranteed by law which isn’t affected by economic downturns or poor investments, your LGPS pension is payable for life and will increase with the cost of living. With this said, we realise that life is everchanging, and the LGPS can be flexible to accommodate the peaks and troughs of life as they emerge. Whether you’re an active member paying into the scheme, a deferred member with your pension on hold, or a pensioner already receiving a pension from us, the NESPF is with you at every step of the journey.

Whether it is a life change or work change, the NESPF has you covered. For example, when times are financially strained, 50/50 offers you the opportunity to reduce your monthly payments while continuing to save for your future. Alternatively, if you want to give yourself a bigger pension to enjoy when you retire, you can boost your pension by paying extra contributions. The Fund offers two ways for you to pay more, to get more.

Absence or Leave 

With the average person having around a dozen jobs throughout their life, the NESPF realises that life doesn’t stay the same forever and career paths might change. If you leave your job, take time off or change contract, your pension could be affected in different ways. If you are absent from work, depending on the circumstances, you may continue to pay pension contributions. You will continue to pay your basic pension contributions on any pay that you receive while you are off sick. Similarly, you will continue to pay your basic pension contributions on any pay that you receive while you are off on relevant child related leave. To find out what other types of leave could mean for your pension visit here.

If you decide to leave your job or opt out of the pension scheme before your pension can be paid, what you can do with your pension. Depending on how long you have been a member and if you have any other LGPS , you could:

• Get a refund of your contributions, or
• Transfer your pension to another provider, or
• Leave your pension with us until it can be paid to you - this is known as "Deferred" pension benefits.

Financial Support for Loved Ones

The member-specific areas of our website – Active, Deferred and Pensioner can give a breakdown of the individual perks offered to each member group but one of the main benefits of the scheme is financial support available to loved ones in the event of a member’s death. If a member dies in service, a tax-free lump sum worth 3 times their pay, is payable. This is known as a Death Grant. You can choose who you would like to receive this grant by updating your nominations online via My Pension or by completing the “Death Grant Nomination” form on our website. A survivor’s pension is also payable to your spouse, civil partner or eligible co-habiting partner and any eligible children in the event of death. Even if you leave and defer your pension with us, or you retire, your loved ones would still be entitled to a death grant and survivor’s pension however these are calculated differently.

The best way to keep your pension knowledge up-to-day and find out more about how your pension may be affected by work or life changes is by visiting the member pages on our website or check out our FAQs which cover specific topics.


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