From 1 April 2014, members have the option to pay into the main LGPS scheme or the 50/50 section.
The 50/50 section allows a member to pay half of their contributions and build up half of their pension benefits.
- Members with multiple jobs can be in the 50/50 section for one employment and the main section in the other(s)
- Members are put back into the main scheme automatically following your auto-enrolment date. You'll need to make them aware of this change and let them know that they need to fill in another 50/50 form if they want to go back into the 50/50 section
- Employer’s contribution rates are the same regardless of if a member is in the main or 50/50 section of the scheme
Changing between the 50/50 and main section
What you need to do when you receive a 50/50 or main section form?
Whenever a member changes between one section of the scheme to another you need to:
- Make sure the member’s contributions are amended on your payroll system
- Make sure the figures on your i-Connect extract are adjusted accordingly
At the end of each year, we'll use the total accumulative figures from i-Connect to work out the amount of pension each member has in each section of the scheme.