The Local Government Pension Scheme (LGPS) is a career average scheme (from 1 April 2014) – this means your benefits are based on your pay earned in each individual year.
For each year in the Scheme you will receive a pension of 1/49th of your pensionable pay, revalued annually by the Consumers Prices Index (CPI).
You will also have the option of taking a tax free lump sum. You can convert £1 of pension into £12 of lump sum, up to 25% of the capital value of your pension benefits.
The following webpage has an interactive modeller showing how the scheme works.