The Local Government Pension Scheme (LGPS) offers members access to one of the most generous pension schemes available.
It is a fantastic part of their remuneration package from employers, providing valuable benefits to members.
A secure pension
As a member of the LGPS with Wiltshire Pension Fund you will accrue a secure annual pension with no investment risk. Visit How is my LGPS pension calculated? to find out more.
Guaranteed income in retirement
The LGPS pension you build up will be paid monthly in retirement, index-linked to inflation each year and not based to any stocks or shares, you are guaranteed to receive your pension for life.
Protection and security
Your family enjoys financial security with immediate life cover and a pension for your spouse, civil partner, eligible cohabiting partner, and eligible children in the event of your death in service.
Flexible contributions
The LGPS offers you the flexibility to pay half your normal contribution rate in exchange for building up half your normal pension whilst retaining full life and ill-health cover. This is called the 50/50 Option of the LGPS. It is designed to help members stay in the scheme, building up valuable pensions benefits during times of financial hardship.
Ill health benefits
If you become seriously ill, you could receive pension benefits to help you through a difficult time. You need to have been a member of the LGPS for two years to qualify for this benefit, but this can include previous service. Visit Ill health retirement to find out more.
Freedom to take your pension
Your pension is usually paid from your State Pension Age. But you can choose to retire and take your benefits at any time between the age of 55 and 75 (subject to reductions or enhancements). Visit My retirement options to find out more.
Flexible retirement
If you reduce your hours or move to a less senior position at or after age 55, you may be able to draw some or all the benefits you have already built up (subject to employer consent).
This will help to ease you into retirement, although your benefits may be reduced for early payment. To qualify for this benefit, you need to have been a member for over two years and your employer must agree. Visit Flexible retirement to find out more.
Tax free savings
You will receive full tax relief on all your pension contributions (if you pay income tax).
Saving for your retirement
Retiring may seem far away, although planning early can help secure a comfortable retirement for you and your family.
Find out more about your pension on the Member Videos and Guides page of our website.
Registered for My Wiltshire Pension?
Our members secure online self- service portal, register or log in to take a look at your retirement projection , view/update your details, register your expression of wish and more!
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