LGPS (Scotland)

The Local Government Pension Scheme (LGPS) in Scotland is a retirement plan for local government employees, providing a guaranteed income after retirement. Funded jointly by employees and employers, it offers benefits based on salary and service length. Contributions are deducted from pay, and the scheme invests these funds to grow them over time. When employees retire, they receive regular payments to support their post-work financial needs. The LGPS aims to provide secure, sustainable retirement benefits through prudent management and legislative oversight.