Hypothetical LGPS Value

hyubh

caveman38 wrote: »

But I just need some figures please.
I know she'll get near £170 per week SP as she has a forecast of high £16o's.
From hyubh's exhaustive figures her LGPS would have given her £6K pa and a lump sum of £10K.
What do you estimate her SP would have been, please.

See my previous post, and the rationale - something like £140 pw.

To be fair, while being a member of the scheme would have given her tax and NI relief, should would have instead been paying scheme contributions. Assuming she wouldn't have been classed as a 'manual' worker, this would have been 6% up until 2008, then probably 6.5% between then and 2014, before dropping down to the current 5.5% (employee rates were banded by WTE pay from 2008 then by actual pay from 2014).

Marcon

What's it matter if you are still together? Marriage is (supposedly) a partnership, although my late mother's take on it was more fun: 'What's mine I keep, what's his I share'. For the record they remained happily married for over half a century, until the death of my dad.

caveman38

Thanks everyone. TBH my wife returned to work to have her own money and that's the way it's always been.
I have always earned enough to pay all the bills etc. although she has given us the treats, looked after the grandchildren and bought the pressies.
Now retirement looms (I've been retired many years) I just wanted to make sure she still had her own money based on her earnings.
Ironically she'll be better off in retirement as I'll make sure she has about £6K plus her SP. I just needed confirmation of figures.
I can now tell her she was better off out of her occupational pension - I won't tell her what it cost me.
I don't mind telling you I was a d**k. It'll be our secret.