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 NESPF office will be closed from 4pm on Thursday 24th of December until 10am on Tuesday 5th January for the Christmas break.
The North East Scotland Pension Fund is delighted to announce we have moved to a new office.
Considering your pension value sooner rather than later can make a huge difference in ensuring you are on track for the retirement you want.
Pension Scams are on the rise, learn more about how these operate, how to protect yourself and what action to take if you are approached.