Active
Deferred
RetiredIf you were a member of the scheme before 1 April 2008
Protection for benefits you built up to 31 March 2008
Protection for benefits you built up to 31 March 2008
The benefits you've built up in today's scheme will be fully protected.
When you leave or retire in the future we'll use your membership to 31 March 2008 to work out a pension and an automatic lump sum under today's scheme rules, not the new rules. The pay figure used will be your final pay at the date you leave or retire.
The pension and lump sum for your membership to 31 March 2008 will be added to the pension you build up from 1 April 2008 in the new-look LGPS.
The example shows a member retiring at 65 on 1st April 2018 with 20 years' membership (10 years in both old and new schemes) and final pay of £20,000.
| Example | |
| From the 10 years in the old scheme | |
| Pension 1/80 x £20 000 x 10 years | £2 500 |
| Automatic lump sum 3/80 x £20 000 x 10 years | £7 500 |
| Plus | |
| From the 10 years in the new scheme | |
| Pension 1/60 x £20 000 x 10 years | £3 333 |
| (Some of this pension could be swapped for a lump sum.) | |
| Total Pension £5833 + lump sum £7500 | |
|