Changes to the Local Government Pension Scheme (LGPS) for employees in England and Wales were introduced from 1 April 2014.
If you were already paying into the LGPS on 31 March 2014, you were automatically transferred to the new Scheme on 1 April 2014.
The main differences between the 2014 and 2008 Schemes are listed below.
| LGPS 2014 | LGPS 2008 | |
| Basis of pension | Career Average Revalued Earnings (CARE) | Final Salary |
| Accrual Rate | 1/49 | 1/60 |
| Revaluation Rate | Treasury Revaluation Order (CPI) | Based on Final Salary |
| Pensionable Pay | Pay includes
|
Pay excludes
|
| Contribution rates | 9 contribution bands | 7 contribution bands |
| Contribution Flexibility | 50/50 section | None |
| Normal Pension Age | Equal to member’s State Pension Age | Age 65 |
| Earliest Voluntary Retirement Age | Age 55 | Age 60 |
| Vesting Period | 2 years | 3 months |
The Scheme also changed in 2008. If you were in the LGPS on 31 March 2008, you were automatically transferred to the new Scheme on 1 April 2008. To view a comparison of the 1997 and 2008 Schemes please click here.
