LGPS

The Local Government Pension Scheme (LGPS) is a retirement plan for employees working in local government roles in the UK. It is a pension fund where both employees and their employers contribute regularly during their working years. When someone retires, they receive an income based on their contributions and the length of service. The scheme offers financial security in retirement, along with benefits like inflation adjustments, early retirement options, and dependents’ benefits. Essentially, it is a collective savings plan that ensures local government workers have a reliable income after they stop working.