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Local Government Pension Scheme

The Local Government Pension Scheme is the biggest funded public-sector pension scheme in the UK and the only one with a real investment pot, the LGPS in England and Wales alone holds around £402 billion in assets. It runs in parallel arms: England & Wales, Scotland, Northern Ireland (NILGOSC), and a separate Local Government scheme for some other public bodies. Most active members are in the 2014 (E&W) or 2015 (Scotland) Career Average sections.

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Local Government Pension Scheme: how the LGPS works for members

The full plain-English guide for this scheme, what it is, how the sections fit together, what you contribute and what you get out.

What members usually ask

Which fund am I in?
Your fund is set by your employer and your geography. Each fund has its own administrator. You’ll have one fund per employment, not one across the whole UK.
What’s the 50/50 section?
Pay half the contribution and accrue half the pension. Full death-in-service cover stays in place. It is a temporary cost-relief option, not a long-term plan.
How do AVCs work in LGPS?
Most LGPS funds offer Shared Cost AVCs through a chosen provider. Done well, they are very tax-efficient at retirement. Done badly, they are not.
What is McCloud doing to my LGPS pension?
A final-salary ‘underpin’ applies for service between 1 April 2014 and 31 March 2022. The default is whichever option produces the higher benefit at retirement.

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