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Jargon buster

  • CARE

    CARE scheme: Career Average Revalued Earnings scheme.

    The LGPS can be described as a career revalued actual pension scheme.

  • Cash equivalent value (CEV)

    This is the cash value of your pension rights for the purposes of divorce or dissolution of a civil partnership.
  • Certificate of protection (material change)

    A certificate issued to a scheme member by an employing authority when the member, as a result of a decision of the employing authority, has to take a reduction in pay.  The certificate protects the members higher pay for the purpose of calculating subsequent pension and lump sum entitlements within certain conditions.
  • Child

    (1) To be eligible for payment of a child's pension the child must be less than 18 at the time of the member's death if they are a natural or adopted child of the deceased. If the child is a step-child or child accepted by the deceased as a member of the family, then the child must also have been dependent on the deceased at the date of death.

    (2) A child's pension can also be paid to a child aged 18 to 23 if the child is in full-time education or vocational training if they are a natural child or adopted child of the deceased. If the child is a step-child or child accepted by the deceased as a member of the family, then the child must also have been dependent on the deceased at the date of death.

    (3) A child's pension may also be paid to a child who is aged over 18 and who is unable to engage in gainful employment because of physical or mental impairment if they are a natural child or adopted child of the deceased. If the child is a step-child or child accepted by the deceased as a member of the family, then the child must also have been dependent on the deceased at the date of death. If you think this may apply to a child, please contact us for further information on the processes.

  • Compensatory added years (also known as credited period)

    Additional membership granted at the discretion of an employing authority to an employee who is made redundant or who retires on efficiency grounds.
  • Consumer Prices Index (CPI)

    This shows the changes in the cost of living. It reflects changes in prices of a cross-section of goods and services over time.

    Up to April 2009 the amount LGPS pensions increased annually in April for inflation was based on the change in the Retail Prices Index from the previous September - September. From April 2010 CPI is used.

  • Contracted-out

    The LGPS was contracted-out of the State Second Pension Scheme (S2P) up to 31 March 2016 when the new single state pension was introduced.

     

  • Contributions equivalent premium (CEP)

    An amount which represents the employer's liability for national insurance contributions at the not contracted out rate in respect of a member who elects to take a refund of pension contributions.
  • COPE

    If you ask the DWP for a State Pension Forecast, you may come across the term COPE, Contracted Out Pension Equivalent.

    If you were a member of the LGPS between 1978 and 2016, you will have paid less National Insurance (NI) contributions than had you not joined the LGPS.

    A consequence of paying less NI is that you are entitled to less state pension.

    The amount of state pension that you are not entitled to is called COPE.

    Your benefits from the LGPS will be more than COPE.