How is it worked out?

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Your pension builds up in a new way from April 2015, and you can see how this works by using our online tool for modelling your LGPS2015 pension here

Since April 2015 the LGPS has been a defined benefit pension scheme worked out on a career average basis. This means that your pension is worked out using a set formula. You build up a pension at a rate of 1/49th of the amount of pensionable pay you received in that scheme year (i.e. the main section of the scheme). The amount of pension you build up is added to your Pension Account at the end of each scheme year.  For any period you were in the 50/50 section, the pension you build up would be half your normal pension build up.