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 job 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
Members should automatically be put into the main section of the LGPS scheme when beginning a new job (under auto enrolment and re-enrolment). However, they can go into the 50/50 section and back into the main scheme as many times as they like.
They need to fill in the relevant form to do this.
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 changed on payroll
- Make sure the figures on your i-Connect extract are updated
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.