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LGPS pension calculator
Start from the career average pension on your annual benefit statement. Each year in the main section adds 1/49th of your pay, and what you have built rises with inflation. Everything is in today’s money.
Now see it beside everything else
Your LGPS pension is one piece. Isaac adds your State Pension, other pensions, savings and spending, takes off tax, and shows how long your money lasts.
- Each LGPS section with its own pension age
- Taking it early, at the pension age or later, compared
- Plan as a couple, with your partner’s pensions too
- Free to start. No card. iPhone, Android and web
- Each year adds
- 1/49th of that year’s pensionable pay
- Revalued by
- inflation (CPI) while you pay in, then inflation after you leave
- Paid in full from
- your State Pension age, or 65 if that is later
- Tax-free cash
- Optional: £12 for every £1 a year of pension given up
Everything is in today’s money. Taking the pension before the age above reduces it for each year it’s paid early; the scheme’s own factors set by how much.
How this calculator works
It starts from the pension you have already built up, from your latest statement. Each year until you stop paying in, it adds 1/49th of that year’s pay and revalues everything so far by inflation (CPI). After you stop, the pension keeps pace with inflation until it is paid. All figures are in today’s money, so a pound in the answer buys what a pound buys now.
Final salary service before April 2014 (April 2015 in Scotland and Northern Ireland) is separate, often with its own pension age and automatic lump sum. This calculator covers the career average part; the Isaac app adds each part. In the 50/50 section, pension builds at half the rate.
Questions
When is my LGPS pension paid?
In full from your State Pension age, or 65 if that is later. You can take it from 55 (57 from April 2028) with a reduction, or later with an increase.
How does the LGPS career average scheme build up?
In the main section each year adds 1/49th of that year’s pensionable pay; in the 50/50 section, half that. The total is revalued each April in line with inflation, while you are a member and after you leave.
How much tax-free cash can I take?
You can give up some pension for a lump sum at £12 for every £1 a year of pension. The most you can take is 25% of the value of your benefits, which works out at about 4.3 times the pension before you give any up. The calculator shows both.
For more on the scheme, read our Local Government Pension Scheme guide.