What benefits could I lose if I opt out?
If you decide to opt out, you will be missing out on some of the main benefits of the LGPS:
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A guaranteed, inflation-proofed pension based on your pay in each year [1] that you pay into the Scheme
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An option to exchange [2] some of your annual pension for a tax-free lump sum amount
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The option to increase your pension by paying extra contributions [3]
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Redundancy [4] cover from age 55
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A death in service lump sum [5] of three times pensionable pay.
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Protection for your family [5] in the form of survivors’ pensions for widows, widowers, eligible co-habiting partners, civil partners and dependant children
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An ill health [6] pension from any age
You can contact us on 0151 242 1392 if you wish to speak to us for more information.