How a pension is worked out

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For Example:

Susan joined the LGPS on 1 April 2014.
 
In Scheme Year 1 (1 April 2014 to 31 March 2015) Susan's pensionable pay is £24,500.
 
Her pensionable pay increases by 1% each year. The cost of living (revaluation adjustment) for the end of the scheme years ending on 31 March 2015, 31 March 2016, 31 March 2017 and 31 March 2018 is 1.2%, -0.1%, 1% and 3% respectively; let's assume that the cost of living (revaluation adjustment) for the following year is 2%.
 
Scheme Year
Opening Balance
Pension build up in Scheme Year
(Pay/Build up rate = Pension)
Total Account
31 March
Cost of Living
Revaluation Adjustment
Update
Total Account
1
2014/15
£0.00
£24,500/49
= £500
£500
1.2% = £6.00
£500 + £6
= £506
2
2015/16
£506
£24,745/49
= £505
£1,011
-0.1% = -£1.01
£1,011 - £1.01
= £1,009.99
3
2016/17
£1,009.99
£24,992.45/49
= £510.05
£1,520.04
1% = £15.20
£1,520.04 + £15.20
= £1,535.24
4
2017/18
£1,535.24
£25,242.37/49
= £515.15
£2,050.39
3% = £61.51
£2,050.39 + £61.51
= £2,111.90
5
2018/19
£2,111.90
£25,494.79/49
= £520.30
£2,632.20
2% = £52.64
£2,632.20 + £52.64
= £2,684.84
 
 

What if Susan elected to join the 50/50 section of the Scheme?

Let us assume that Susan had a period of time in the 50/50 section of the Scheme and for 6 months from 1 April 2015 to 30 September 2015 she elected to pay half her normal pension contributions in return for half her normal pension build up. 
 
Her pension account would look like this:
 
Scheme Year
Opening Balance
Pension build up in Scheme Year
(Pay/Build up rate = Pension)
Total Account
31 March
Cost of Living
Revaluation Adjustment
Update
Total Account
1
2014/15
£0.00
£24,500/49
= £500
£500
1.2% = £6.00
£500 + £6
= £506
2
2015/16
£506
£12,372.50/98
= £126.25
 
£12,372.50/49
= £252.50
£884.75
-0.1% = -£0.88
£884.75 - £0.88
= £883.87
3
2016/17
£883.87
£24,992.45/49
= £510.05
£1,393.92
1% = £13.94
£1,393.92 + £13.94
= £1,407.86
4
2017/18
£1,407.86
£25,242.37/49
= £515.15
£1,923.01
3% = £57.69
£1,923.01 + £57.69
= £1,980.70
5
2018/19
£1,980.70
£25,494.79/49
= £520.30
£2,501.00
2% = £50.02
£2,501.00 + £50.02
= £2,551.02