A Guide to the Local Government Pension Scheme for Employees in England and Wales
14th July 2018
A Guide to the Local Government Pension Scheme for Employees in England and Wales
The Local Government Pension Scheme (LGPS) is administered locally by 86 local pension funds in England and Wales.
The LGPS is one of the largest pension schemes in the UK. It is a defined benefit pension scheme which means your pension is based on your salary and how long you pay into the Scheme. Your pension is not affected by how well investments perform. The LGPS provides you with a secure and guaranteed income every year when you stop working.
Across England and Wales the LGPS currently has 6.1 million members:
- 2 million people are currently paying into the LGPS
- 1.9 million people are being paid a pension from the LGPS
- 2.4 million have a pension with the LGPS that they have not taken yet
Over 18,000 employers participate in the LGPS.
In March 2022, the market value of the LGPS was £361 billion.
Click the link below for more information regarding the LGPS.