The Local Government Pension Scheme (LGPS) is a ‘Career Average Revalued Earnings’ (CARE) scheme, meaning that your benefits are based on your salary for each year you are in the scheme, and is revalued with Pensions Act increases.
For up-to-date information about your pension, register for a Members’ Self Service account. Some of the many benefits of the LGPS are:
A secure pension The longer you are a member and the more you pay in, the more benefits you will get when you retire.
A pension that grows Your pension keeps pace with cost of living increases, and your employer contributes too – approximately 2-3 times what you pay in.
Flexibility You can choose to pay more into your pension, pay half, or opt out.
Peace of mind You can top up your pension to cover an absence, and there is cover if you are made redundant, if you fall ill, and in the event of your death.
Retirement options Early and flexible retirement, and tax-free cash.
Data Security The Devon and Somerset Pension Fund Administering Authorities are Data Controllers under the General Data Protection Regulations. This means we store, hold and manage your personal data in line with statutory requirements to enable us to provide you with pension administration services. To enable us to carry out our statutory duty, we are required to share your information with certain bodies, but will only do so in limited circumstances. For more information about how we hold your data, who we share it with and what rights you have to request information from the Fund, please see our privacy notices: Devon Pension Fund / Somerset Pension Fund