Current members

Joining the fund

This section holds information for people who are currently paying into the pension scheme.

Who is eligible to join the LGPS?

The Local Government Pension Scheme is an occupational scheme so to join the scheme you need to be employed by an employer who offers the LGPS to its staff. If you do work for a participating employer then they will automatically bring you into the pension scheme when you start your employment. The only exceptions to this are if you have a contract of less than 3 months or are a casual employee.

For more information, A brief guide to the LGPS (PDF, 186KB) is available. A copy of the full guide (PDF, 757KB) is also available. The LGPS have also produced some videos for further information. View the videos.

More information and guidance is available under the 'Resources' section of our website. 

How much does it cost?

Contribution Table 2020/2021 

Band Actual pensionable pay for an employment Contribution rate for that employment
    Main Section 50/50 Section
1 Up to £14,600 5.5% 2.75%
2 £14,601 to £22,800 5.8% 2.90%
3 £22,801 to £37,100 6.5% 3.25%
4 £37,101 to £46,900 6.8% 3.4%
5 £46,901 to £65,600 8.5% 4.25%
6 £65,601 to £93,000 9.9% 4.95%
7 £93,001 to £109,500 10.5% 5.25%
8 £109,501 to £164,200 11.4% 5.7%
9 £164,201 or more 12.5% 6.25%

To work out how much your pension contribution will be per month, LGPS have provided an online calculator.

 

If you want to pay in extra to top up your pension there are two ways of doing this, either Additional Pension Contributions (APCs) or Additional Voluntary Contributions (AVCs)

Additional Pension Contributions (APCs)

If you want to buy extra pension for your retirement you have the option of paying APCs. In some circumstances you can buy back lost pension (for example where you have a period of authorised unpaid leave) where your employer must also pay towards buying back this lost pension if you decide to buy it within 30 days of returning to work.

If you are in the main section of the Scheme, you can pay more in contributions to buy up to £6,822 of extra pension. Any extra pension you purchase is payable each year in retirement and is payable on top of your normal LGPS benefits.

You can normally pay for this extra pension either regularly over a complete number of years directly from your pay or via a lump sum (either from your pay or directly to your Pension Fund). The minimum period of time you can spread payment of APCs over is 12 months and the maximum period is the number of years to your Normal Pension Age.

Any extra regular contributions are taken from your pay and if you pay tax, you receive tax relief automatically through the payroll.

You can choose to stop paying APCs at any time by notifying your Pension Fund in writing. You will be credited with the extra pension that you have paid for at the time of ceasing payment.

The cost of any extra pension you buy is paid for by you unless your employer chooses to pay some or all of the cost of the APC. Shared cost APCs (except in cases where a member chooses to buy lost pension within 30 days of returning to work) are an employer's discretion.

If you choose to retire early (before your Normal Pension Age) the extra pension you have bought will be reduced for early payment. If you choose to draw your pension after your Normal Pension Age any extra pension you buy is increased because it’s being paid later.

On retirement, you can choose to exchange some of the extra pension you have bought for a tax-free cash lump sum in the same way as your main LGPS pension.

If you die in service then no extra benefits from your APC contract will be payable. This is because the amount of extra pension you purchase is for you only.

You may be required to undergo a medical examination at your own expense before being allowed to buy extra pension. APC Medical Certificate

You can use the online calculator to see how much it costs to buy extra pension and if you want to start paying APCs you can print off an application form to send to your employer.

Additional Voluntary Contributions (AVCs)

Additional Voluntary Contributions (AVCs) are extra payments you can choose to make to build up a fund that will provide a pension, at retirement, in addition to your Local Government pension.

A guide to AVCs in the LGPS (PDF, 674KB).

The Choices

The Fund has undertaken a review of the range of AVC investment fund choices available with Standard Life. Based on advice from its pension advisers, the Fund has selected an expanded range of fund options for members to choose from.

Details of the new range of funds are set out in the Standard Life  booklet entitled How to chose the right investment options for your Pension (PDF, 763KB).

How much can I pay?

The maximum a member may pay into the in house AVC to 100% of your salary. You may change your payments at any time. Your payments will be invested in one or more of Standard Life’s range of investment funds. This amendment came into force on 1st April 2014.

How can I make an AVC?

Please contact us on 01926 412682 or complete the attached ‘AVC request form’. Contributions will be deducted from your salary by your employer via Payroll and, as with your pension contributions to the main Fund, your AVCs also currently attract tax relief at your highest marginal rate (subject to the annual and lifetime allowances).

Additional Voluntary Contribution Form (PDF, 14KB)

What happens when I retire?

At retirement, your fund can be used to buy a pension from Standard Life or another life assurance company of your choosing. You will also have the option of converting your AVC fund to additional pension in the Local Government Pension Scheme.

For further information visit the Standard Life website (user ID is LGPS) or call 0845 279 8831.

Lifetime Allowance and Annual Allowance

HM Revenue and Customs impose two controls on the amount of pension savings you can make without having to pay extra tax. These controls are known as the annual allowance (PDF, 435KB) and lifetime allowance (PDF, 542KB).  This is in addition to any income tax you pay on your pension once it is in payment.

Pension Tax Advice

Aimed at LGPS members who require further information about the poterntial impact of annual allowance on their tax and retirement planning. Pension tax advice - more information.

The Warwickshire Pension Fund is not regulated to provide financial advice and cannot be held responsible for financial decisions taken by members. Warwickshire Pension Fund has agreed to host Charles Derby on its website in order to provide members with additional information to guide them in their decision regarding their pensions. Any advice provided by Charles Derby is made to you directly as a pension member and the Fund does not accept any responsibility for advice given to you by Charles Derby or the consequences of any decisions you take in respect of such advice.

Freedom and Choice

In April 2015, the tax rules were changed to give people greater access to their pensions.

Find out more about the change (PDF, 404KB).

Further information and guidance on LGPS is available under the Resources section.  Please read our privacy statement on how we store and use your data

Opting Out

If you are member of the LGPS in Warwickshire but are employed by a different employer, that is NOT Warwickshire County Council, then please complete this form and return it to your payroll so that they can take you out of the scheme:

If you are planning to retire, more information can be found on our 'Retired or planning to retire' page.

Active Newsletter

Newsletter 2019

Guidance notes