Welcome to the City and County of Swansea Pension Fund website. The City and County of Swansea administers the Local Government Pension Scheme (LGPS) on behalf of the City and County of Swansea and Neath Port Talbot County Borough Council, as well as a wide range of other employers, such as local Colleges, Town and Community Councils and some non-profit making organisations who provide a public service or contractors who provide a service previously undertaken by a scheme employer.
Whether you are an existing member of the scheme or considering joining, the pages on this website will show you how the Local Government Pension Scheme (LGPS) works and how it can benefit you and your family for the future.
About the LGPS
The LGPS provides an excellent range of benefits that both full-time and part-time employees can enjoy. These include:
From Day One:
Life cover, equivalent to 3 years’ pay or £75,000 whichever is more being paid if you die in service
Cover for your family – there is a pension for your husband, wife, registered civil partner or co-habiting partner and any eligible children in the event of your death
The availability to transfer previous pension rights into the Scheme (N.B. an application to transfer must be made within 12 months of joining the Scheme
The option to increase your benefits by paying additional contributions to buy extra LGPS pension, or make payments to the Scheme’s Additional Voluntary Contribution (AVC) arrangement, or to another pension arrangement of your choice
After 2 years in the Scheme:
The option to voluntarily retire from age 55
The opportunity to take flexible retirement from age 55 provided your employer agrees and you reduce your hours, or move to a less senior position
If you choose to voluntarily retire or take flexible retirement before normal pension age*, your benefits will usually be reduced to account for them being paid for longer.
Immediate payment of your pension benefits if you have to leave work at any age due to permanent ill health, which could be increased if you are unlikely to be capable of undertaking gainful employment within 3 years of leaving.
Early payment of benefits if you are made redundant or retired on business efficiency grounds and you are aged 55 or over
You can stay in the LGPS if you carry on working after normal pension age*, although you have to draw your benefits by 75. Benefits drawn after normal pension age* will be increased
The option to leave the benefits in the scheme until normal pension age* or transfer them to another Scheme if you leave before they become payable
*Normal pension age is the age at which you are entitled to receive your state pension.
A pension for life that increases with the cost of living
The option to exchange part of your annual pension for a one off tax-free cash payment