Important information:

Phone lines open between 10am - 4pm

Our telephone lines are only open from 10am until 4pm and are extremely busy. Why not instead try our new virtual assistant who can answer many queries, or else email pensions@shropshire.gov.uk Many thanks for your patience.

Local Government’s financial position and your LGPS pension

Publication date: 15/09/2023 14:33:49

How can I know my pension is safe?

We understand that members may be concerned about the current financial position of local authorities. Local Government Pension Scheme (LGPS) members can be sure that their pension, whether in payment or still building up, will be unaffected and is protected.

We want to remind our members that the LGPS is a defined benefit pension and is guaranteed to pay you an annual pension income upon retirement. Your defined benefit pension is not linked to stock market changes, performance of investments or the financial health of your employer. Your benefits are set out in law and kept in a funded scheme. This means the money is kept separate from councils’ finances and based on a calculation set out in the regulations of the scheme.

More information about how your benefits build up in the fund can be found on our website here: Pension account | Shropshire County Pension Fund

If you already have  a pension in payment, you can find out how this increases each year here: How your pension increases and GMPs | Shropshire County Pension Fund

Categories:

Related Pages