The majority of the information contained in the active members area also applies to Councillors. However there are some differences which are outlined below.
There are different calculations for working out the value of your deferred pension depending on when you were a member of the scheme:
The pension you build up during each or any of the above periods is calculated separately and added together to get your total pension.
Career Average Pay is the average pay you received over your LGPS membership. In calculating your average pay, the pay you received each year while in the pension scheme is revalued so it keeps up with the cost of living. Your revalued pay for each year is added together with the total divided by your membership to get your Career Average Pay. This figure is then used to work out your benefits in the old career average scheme up to 31 March 2015.
The consultation period for the Annual Accounts is now open and will run from 23 June 2025 to 14 July 2025.
The North East Scotland Pension Fund will publish the unaudited Annual Accounts for the financial year 2024/25 on 23 June 2025.
The cost of living has been steadily increasing, which in turn has put pressure on many household incomes.
With benefits ranging from a secure pension guaranteed by law, to different types of retirement options, your pension has been designed with you and your future in mind.