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.
Pensions Awareness 2025 is returning from 15th to 17th September and serves as a reminder to take time to check your pension is on track for the retirement you want.
September marks the start of a busy season in the pensions industry with several forthcoming events encouraging us to think about our pension pots.
Annual Pension Statement videos are now available on our secure member portal My Pension+.
The Retirement Planner available on the My Pension+ portal can give us a clearer picture of how our finances in retirement could look.