As a member of the LGPS your pension benefits build up through your pension account. The LGPS is now a CARE scheme which means that each year you accrue a pension equal to 1/49th of your pensionable pay, which is added to your pension account. Your pension benefits are then revalued each year to ensure that they keep up with the cost of living.
If you have more than one employment, and contribute to the LGPS in each of these seperate employments, you will have a different pension account for every employment in which you are paying pension contributions. The pension benefits built up for each employment will be calculated separately using the details for that employment.
The pensionable pay used to calculate your benefits is supplied by your employer at the end of each scheme year, along with any other relevant employment information needed such as breaks in service or hours changes. The information received from your employer will be used to update your pension account.
Shropshire County Pension Fund recommends that you check your pension account each year to ensure that the information supplied by your employer is correct. You can do this by checking your benefit statement or by viewing ‘My Pension Online’.