Benefits of the LGPS
The benefits of the Local Government Pension Scheme (LGPS) are set out in law.
To qualify for LGPS retirement benefits you have to meet the 2 years' vesting period in the scheme. There is more information about the vesting period on the lgpsmember.org website.
Under current regulations, some of the main benefits of the LGPS are:
- A guaranteed, inflation-proofed pension based on your pay in each year that you pay into the scheme
- An option to exchange some of your annual pension for a tax-free lump sum amount
- The option to increase your pension by paying extra contributions
- Redundancy cover from age 55
- A death in service lump sum of three times pensionable pay.
- Protection for your family in the form of survivors’ pensions for widows, widowers, eligible co-habiting partners, civil partners and dependant children
- An ill-health pension from any age
More information is in our Guide to the Local Government Pension Scheme. You can also watch the 'Protection for you and your family' video.