What is Lgps care pension?
The LGPS is a career average revalued earnings (CARE) scheme, which means your benefits are based on your salary for each year you are in the scheme and each year it is revalued in line with Pensions Act increases. ...
Are Local Government Pensions any good?
The Local Government Pension Scheme is in good financial health and has, on limited resources, negotiated a host of changes in the past 10 years. Examples are the move to career average revalued earnings, to pooling and the change in regulator.
How much do the Council contribute to your pension?
What do I pay? Your contribution rate depends on how much you are paid but it will be between 5.5% and 7.5% of your pay.
What does deferred pension mean?
A deferred pension is a pension that you delay taking until later in life. The longer you wait before accessing your savings, the higher your potential retirement income could be.
Who are Peninsula Pensions?
Peninsula Pensions is the operational name for the shared administration service of the Local Government Pension Scheme (LGPS) on behalf of the Devon and Somerset Administering Authorities.