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Short term membership of LGPS

peboy123
peboy123 Posts: 6 Forumite
in Pensions, annuities & retirement planning
I'm changing jobs in September. I am moving from full time work to part time in a different post. Is it worth me joining the LGPS? I may only be in this new position for a year or two.

Comments

  • jem16
    jem16 Posts: 19,691 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Absolutely definitely worth joining. You can always transfer your built up pension if necessary if you do move.
  • MARTYM8`
    MARTYM8` Posts: 1,212 Forumite
    Eighth Anniversary 1,000 Posts
    jem16 wrote: »
    Absolutely definitely worth joining. You can always transfer your built up pension if necessary if you do move.

    Yes - or leave it there. They will get 1/49th of their salary as a pension per annum - which if deferred will rise in line with CPI until they retire.

    While you are employed you also get life insurance equivalent to 3 times salary - and ill health benefits.

    Definitely worth it!
  • jem16
    jem16 Posts: 19,691 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    MARTYM8` wrote: »
    Yes - or leave it there. They will get 1/49th of their salary as a pension per annum - which if deferred will rise in line with CPI until they retire.

    If they can leave it then yes. Was really thinking about moving it only if they hadn't accrued enough service to keep it there.
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