50 / 50 Section
As a member of the Local Government Pension Scheme (LGPS), you have the option to opt out at anytime, however, this is NOT a decision to be taken lightly.
As an alternative, you have the option to reduce your normal contribution rate by half, to build up half the level of pension in the scheme during this time; which may be a better option than having to opt out of the scheme altogether. This is known as the 50/50 Section.
Whilst contributing at 50% you will retain full ill health and death cover.
How do I elect for the 50/50 Section?
You will need to inform your Employer in writing and your contribution rate will be reduced from the next available pay period. You are able receive the appropriate Election Form by contacting your Employer.
You can revert back to your normal contribution rate at any time, by informing your Employer in writing. Your pension will then start to build up at the normal rate from the next available pay period.
Note that this option is designed to be a short term solution for when times are financially difficult. Your Employer will be required to re-enrol you back into the 'Main Section' of the scheme every 3 years. This will be carried out in line with your Employer’s automatic re-enrolment date.
If you have more than one employment, you can elect for the 50/50 Section in one, some or all your employments.
To estimate your contribution under the 50/50 Section of the Scheme, please click here.