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Pension Accounts

From 1 April 2015 the Local Government Pension Scheme (LGPS) has been a career average scheme. This means each year you build up a pension based on your pensionable pay for that year.  This is then added to your Pension Account.

At the end of each year the amount in your Pension Account will be adjusted in line with the cost of living - currently the rate of the Consumer Prices Index (CPI) - to ensure it keeps its value. For every job you have you will have a separate Pension Account.

This is very different from the way your pension built up before April 2015 and to help you understand how a Pension Account works, there is an interactive Pension Account Modeller available.

Pension Account modeller for career average pension from April 2015

The Pension Account Modeller is to help you understand how pension accounts work. This Modeller only shows how a pension builds up from April 2015.

The Modeller allows you to input pensionable pay details, assumed inflation and assumed pay increases to see how the value of an LGPS pension builds over the number of years you choose. You can also choose to see how opting for the new '50/50 section' would impact on the benefits built up in a pension account.

The Modeller is not designed to provide you with an estimate of benefits. It shows how a pension will be worked out in the LGPS from 1 April 2015 onwards.  

It is important that you read the 'Disclaimer' below before you use the Modeller.



The LGPS 2015 Pension Account Modeller has been produced for illustrative purposes only.

The figures shown do not include the value of any reduction if your pension is paid before your Normal Pension Age or any increase if it was to be paid later than your Normal Pension Age. Your Normal Pension Age for pension built up from April 2015 is linked to your State Pension Age.

The Modeller is for general information purposes only and does not cover individual personal circumstances and does not provide any contractual or statutory rights and does not override existing legislation.