F
50/50 section
The LGPS 50/50 section allows members to pay half their normal contributions in exchange for building up half their normal pension. It’s designed as a flexible and temporary measure for those experiencing financial hardship who want to stay in the pension scheme instead of opting out completely. Members in the 50/50 section maintain full life and ill-health cover.
Final pay
Final pay determines final salary benefits in the LGPS and is usually based on the pay from your final year of scheme membership. If your pay from one of the previous two years is higher, that figure can be used instead.
Your final pay includes:
- normal pay
- contractual shift allowance
- bonus
- contractual overtime
- maternity, paternity, adoption, or shared parental pay
- other taxable benefits specified in your contract as pensionable.
It doesn’t include non-contractual overtime.
If you worked part time during your final year, your final pay is calculated as if you had worked full-time.
If your pay in the final year reduces because of:
your final pay is the pay that would have been due if you hadn’t been sick or on leave.
