New LGPS 2014 information
The Local Government Association (LGA) has developed a suite of leaflets to help you to understand the new Scheme which came into effect from 1 April 2014. Five leaflets are available and topics covered are:
They have also recently launched a modeller which interactively details how pension builds up in the new scheme. The modeller allows you to input pensionable pay details, assumed inflation and pay increases to see how the value of an LGPS pension builds up over the number of years chosen.
Please note that the modeller is not designed to provide estimates of benefits and only provides information on Career Average Revalued Earnings (CARE) benefits post April 2014.
Further information on the new scheme which came into effect on 1 April 2014 can be found at lgps2014.org.