Non-Teaching Staff Pensions: Local Government Pension Scheme (LGPS)
It is important that you understand your Local Government Pension and the benefits of being a scheme member. The first step is to be able to access your pension information via the online portal PensionPoint.
To do this click on the link below, to visit the pension administrators website - Local Pension Partnership (LPP)
Local Pensions Partnership Administration - Local Government, Fire & Police (lppapensions.co.uk)
For further assistance on how to register and activate your account with PensionPoint please see the video links on the LPPA website in the ‘Help Hub’ section.
Videos • Local Pensions Partnership Administration
Once you have access to your online account you can view your membership details and use the benefit calculator to find out more details about your pension benefits (for example you can input different retirement dates).
It is also important that you complete the Death Grant Nominations section on your account so that you loved ones are provided for in the event of your death. Information on how to do this can be found on the LPP website and the PensionPoint site.
Additional Voluntary Contributions
For employees who pay into the Local Government Pension Scheme (LGPS) there is an option to take out Shared Cost Additional Voluntary Contributions (AVC’S) to increase employee pension benefits.
My Money Matters provides a service to support public sector employers in offering their Local Government Pension Scheme members access to the cost effective retirement benefits of a salary sacrifice Shared Cost AVC
https://www.my-money-matters.co.uk/who-are-we
What are Shared Cost AVCs?
Shared Cost AVCs enable the employee to build an additional pot of money alongside their pension with contributions exempt from Income Tax and National Insurance contributions (NICs), with the potential to take it all as a tax-free lump sum when they retire.
The AVCs are held with the AVC provider (Standard Life, Prudential etc.) and are processed via a reduction in the employee’s salary via a salary sacrifice arrangement, on which the employer also makes savings by paying less employer NI.
The link below provides further information about Shared Cost AVC’s
https://www.my-money-matters.co.uk/avcs
If you are interested in signing up for the Shared Cost AVC scheme please speak with your HR department who will provide further information on this service.