LGPS and Salary Sacrifice

ljm2022

Hi, I am shortly staring a new job and will be enrolled onto the LGPS pension scheme. I understand pensions quite well but can't find out if LGPS normal contributions are deducted via salary sacrifice like most private sector schemes? I understand AVC's do.

Many Thanks,
Luke

JoeCrystal

ljm2022 said:

Hi, I am shortly staring a new job and will be enrolled onto the LGPS pension scheme. I understand pensions quite well but can't find out if LGPS normal contributions are deducted via salary sacrifice like most private sector schemes? I understand AVC's do.

Many Thanks,
Luke

It might depend on the individual employers making the decisions so it is certainly worth checking with your new employer in this case. Certainly worth checking with your new employer if they allow transfers in from the DC pension schemes to buy the LGPS pension.

Dazed_and_C0nfused

I think most LGPS employers will operate net pay for your normal contributions.

Nice and simple with maximum possible tax relief received each pay day but no NI saving 😥

AlanP_2

As the LGPS is a contributory DB scheme the rules do not allow for the employee to not contribute. 

SS schemes are employer contributions with the employee sacrificing some pay the the employer puts in to their pension. 

Some LGPS regimes offer SS for AVC contributions, many don't so you would need to ask locally about how yours operates. 

Even without SS the AVC option is a great deal, the icing on top of a very nice cake. 

If you can get SS you've added a cherry as well