If you left the scheme prior to 1st April 2008, your pension entitlements will be:
- Pension = Final full time equivalent salary x Membership ÷ 80
- Lump Sum = 3 x Above annual pension
If you joined the LGPS before 1st April 2008 and left between 1st April 2008 and 31st March 2014, your membership will be split into two periods so we can calculate your pension entitlements.
1. For membership up to 31/03/2008, your entitlements will be:
- Pension = Final full time equivalent salary x Membership ÷ 80
- Lump Sum = 3 x Above annual pension
2. For membership from 01/04/2008, your entitlements will be:
- Pension = Final full time equivalent salary x Membership ÷ 60
If you joined the LGPS before 1st April 2008 and left after 31st March 2014, your membership will be split into three periods so we can calculate your pension entitlements.
1. For membership up to 31/03/2008, your entitlements will be:
- Pension = Final full time equivalent salary x Membership ÷ 80
- Lump Sum = 3 x Above annual pension
2. For membership from 01/04/2008 to 31/03/2014, your entitlements will be:
- Pension = Final full time equivalent salary x Membership ÷ 60
3. For membership from 01/04/2014, your entitlement will be:
- Pension = Actual pensionable pay from 1 April to 31 March ÷ 49
This calculation is calculated for each tax year individually, with the pension credited to your account at the end of each year.
There will be no automatic entitlement to a lump sum for any membership you have accrued form the 1st April 2008 onwards, but you do have the option of converting a percentage of your pension into a lump sum if you wish, full details on this can be found under Converting pension into lump sum.