Local Government Pension Scheme (LGPS)

The Local Government Pension Scheme (LGPS) is a workplace retirement plan for employees of local authorities in the UK. It offers a way to save for retirement through regular contributions from employees and their employers, with the added benefit that the scheme provides a guaranteed pension upon retirement. The LGPS is a defined benefit scheme, meaning the pension amount is calculated based on salary and service length, providing employees with financial security in later years. It's designed to be sustainable and flexible, supporting the needs of local government staff while offering collective risk pooling and professional management.