The LGPS (Scotland) is a statutory defined benefit scheme; changes to the scheme can only be made through legislation laid down by the Scottish Government. The scheme was contracted out of the earnings related part of the state scheme until 5 April 2016 and revalues GMP at the full rate. The following shows the scheme basis, accrual rates and NPA for each set of regulations with a link to the full regulations.
| Regulations LGPS(S) | Basis | Accrual | NPA | Earliest retiral without reduction |
|---|---|---|---|---|
Effective 21/12/1987 | Final Salary | Pension 1/80th Lump sum 3/80ths | Between age 60 and 65 when notional membership amounts to 25 years | 60 or over +25 years membership |
Effective 01/04/1998 | Final Salary | Pension 1/80th Lump sum 3/80ths | 65 | Over age 60 when age and membership together adds up to 85 or more |
Effective 01/04/2009 | Final Salary | Pension 1/60th No automatic lump sum but can give up pension for lump sum at 12:1 | 65 | Age 65, or if joined before December 2006, over age 60 when membership + age exceeds 85 |
Effective 01/04/2015 | CARE (but see below) | 1/49th of actual pensionable pay per year | Equal to New State Pension Age | 65 unless has transitional protection if a member before 1/4/2015 |
Effective 01/04/2015 | CARE (but see below) | 1/49th of actual pensionable pay per year | Equal to New State Pension Age | 65 unless has transitional protection if a member before 1/4/2015 |
Anyone who was a member on 31 March 2015 and remained a member on 1 April 2015 transferred to the new Career Average Revalued Earnings (CARE) scheme. Those members retain a final salary link for their pre-1 April 2015 membership. The final salary used is the "final pensionable pay" at date of leaving the scheme. Final pensionable pay is the average pay based over a year rather than actual rate of pay on leaving and means the best in the last three years of working.
The earliest retirement date for a member to retire voluntarily is age 60. You can find information on the current scheme in our Guide to the LGPS. The booklet includes tables showing actuarial reduction factors which may apply to early retirements.
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