How are my benefits worked out?

Any pension built up in the scheme from 1st April 2015 will be on a Career Average Revalue Earnings (or CARE) basis. Visit 'How a CARE scheme works' to find out more.

If you have membership before 1 April 2015, the pension you earned will be worked out as:

From 1 April 2015 you will build up a pension of 1/49th of your pensionable pay each Scheme Year and this will be added to your Pension Account.

The amount of pension in your Pension Account will be re-valued every year to keep it in line with the cost of living - currently measured by the Consumer Prices Index (CPI).

If you have more than one job in the LGPS, then you will have more than one Pension Account - one for each of your jobs.

For any period you are in the 50/50 section the pension you build up will be half your normal rate (currently 1/98th).

You can take part of your pension as a tax free lump sum but you will have to give up some of your pension for this.

If you joined the Scheme for the first time on or after 1 April 2009, your benefits are worked out as:

Pension = final pay x membership ÷ 60

You can take part of your pension as a tax free lump, sum but you will have to give up some of your pension for this.

If you have membership before 1 April 2009, the benefits you earned before 1 April 2009 are worked out as:

Pension = final pay x membership ÷ 80

Lump sum = pension x 3

You can choose to give up some of your pension for a bigger lump sum.

If you have membership both before and after 1 April 2009 the two amounts of pension and tax free lump sum will then be added together with your CARE benefit to give you your total benefits.

Example of how benefits are worked out

What if I work part time or term time?

If you work part time your pay used to work out your benefits for membership before 1 April 2015 will be your full time equivalent rate. Your membership will be proportionate based on the actual hours you worked. For membership on or after 1 April 2015 your pension account will be based on the actual pay from which your pension contributions were deducted.

Example of how benefits for someone working part time are worked out