Pensions

The majority of Council employees are eligible for the Local Government Pension Scheme (LGPS). The other schemes are the Teachers Pensions Scheme (TPS) or the NHS Pension Scheme (NHSPS); if you are not eligible for either of these schemes you will be eligible for the LGPS.

The LGPS is a career average revalued earnings pension scheme administered by Peninsula Pensions. This means that your benefits are based on your salary for each year you are in the scheme. It is an extremely valuable benefit of working for Plymouth City Council as it provides:

A secure pension - the longer you are a member and the more you pay in, the more benefits you will get when you retire. You have a secure future income independent of share prices and stock market fluctuations.

A pension that grows – the Council contributes approximately two-three times what you pay in. Your pension keeps pace with cost of living increases

Flexibility - you can choose to pay more into your pension, pay half, or opt out.

Peace of mind - you can top up your pension to cover an absence, and there is cover if you fall ill, and in the event of your death.

Retirement options - Early and flexible retirement, and tax-free cash.

 

Full details of the LGPS is available on the Peninsula Pensions website.

Details of the Teachers Pensions Scheme (TPS) is available on the Teachers Pensions website.

Details of the NHS Pension Scheme (NHSPS) is available on the NHS website.