Is it really worth being in the LGPS?

It is impossible to buy the same benefits – pension, ill health cover, death in service lump sum etc. – through any other arrangement. Tax relief means that the cost to you of participating is less than the headline contribution rate. Your employer will contribute around twice as much as you do to the scheme. You cannot get hold of that money without participating in the scheme. Given the comparatively low level of state pension provision available, the real question to ask yourself is can you afford not to be in the LGPS?

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