Your LGPS pension is a hugely valuable benefit. As well as providing you with an annual pension from retirement until you die, there are several other benefits you receive by contributing to GMPF.
From the date you join you get valuable life cover of three times your pay while you are paying in, and even after you retire, you still have some life cover protection for up to ten years. You can nominate who you would like your life cover to be paid to, and there’s additional financial protection for your family with dependent pensions potentially payable.
GMPF also provides ill health protection and redundancy protection that you don’t get with many other types of pension schemes.
Additionally, you have the option of retiring early, or possibly taking flexible retirement, as well as the option to swap some of your pension for a tax free lump sum when you retire.
There’s also our 50/50 section, if you need to reduce your contributions for a while. You’ll only build up half the pension while you’re in the 50/50 section, but you keep your full life cover and ill health protection.
Plus your online My Pension account allows you to update your contact details, amend your life cover expression of wish, check out your annual benefit statements and upload documents to us securely.
To find out more about the different benefits mentioned please use the links below.