Which pension scheme?

kate.80

I have been offered the opportunity to join either the local government pension scheme or the social housing pension scheme. I have looked on their websites and they both seem more or less the same. Does anyone have any opinion on if one would be more beneficial to join than the other.

I have no idea when it comes to pensions so any help would be appreciated.

hugheskevi

The social housing pension scheme seems to offer 5 different benefit structures, which the employer chooses from.

Which benefit structure is your employer offering within the social housing pension scheme? And what is the employee contribution rate?

From a look through the social housing pension scheme, assuming the employer is offering the same benefit structure at the same rate of contribution, one difference would seem to be that LGPS offers uncapped inflation protection both pre and post retirement, whereas the social housing pension scheme is capped at 5%.

Probably not a big deal, and irrelevant if inflation is below 5% on average, but who knows what will happen in the next fifty years - small things like that can be important.