LGPS Calculator

Maria2512

Hi,

My employer still doesn’t have an online portal and we are still waiting for our annual statements to arrive by post. Is there an online calculator that specialises in LGPS that I can play around with?

thanks

hyubh

Maria2512 said:

My employer still doesn’t have an online portal and we are still waiting for our annual statements to arrive by post. Is there an online calculator that specialises in LGPS that I can play around with?

Assuming you've got (a) last year's ABS and (b) payslips covering 1/4/22-31/3/23 (or more basically: your total pensionable pay for that period), should be fairly straightforward. Do you have other things relevant (e.g. an old ARC)...?

MX5huggy

If all in 2015 scheme. Take you last statement balance multiply by 1.031 (inflation in September 2021 was 3.1%) and add 1/49th of you pensionable pay for 22/23. 

Maria2512

MX5huggy said:

If all in 2015 scheme. Take you last statement balance multiply by 1.031 (inflation in September 2021 was 3.1%) and add 1/49th of you pensionable pay for 22/23. 

Started in 2000. Ok will try that. Ta. 

Maria2512

MX5huggy said:

If all in 2015 scheme. Take you last statement balance multiply by 1.031 (inflation in September 2021 was 3.1%) and add 1/49th of you pensionable pay for 22/23. 

hyubh said:

Maria2512 said:

My employer still doesn’t have an online portal and we are still waiting for our annual statements to arrive by post. Is there an online calculator that specialises in LGPS that I can play around with?

Assuming you've got (a) last year's ABS and (b) payslips covering 1/4/22-31/3/23 (or more basically: your total pensionable pay for that period), should be fairly straightforward. Do you have other things relevant (e.g. an old ARC)...?

hyubh said:

Maria2512 said:

My employer still doesn’t have an online portal and we are still waiting for our annual statements to arrive by post. Is there an online calculator that specialises in LGPS that I can play around with?

Assuming you've got (a) last year's ABS and (b) payslips covering 1/4/22-31/3/23 (or more basically: your total pensionable pay for that period), should be fairly straightforward. Do you have other things relevant (e.g. an old ARC)...?

Nothing else

hyubh

Maria2512 said:

MX5huggy said:

If all in 2015 scheme. Take you last statement balance multiply by 1.031 (inflation in September 2021 was 3.1%) and add 1/49th of you pensionable pay for 22/23. 

Started in 2000.

You need the split between pre-April 2014 pension and the rest. For the latter: take the value from last year's ABS, add 1/49 your pensionable pay from 1/4/22-31/3/23 inclusive, then multiply the total by 1.101 (revaluation occurred on 1 April, using the previous September's CPI figure). For your pre-April 2014 pension, take the figure from 2012, then multiply by your whole time equivalent pay on 1/4/23 divided by your whole time equivalent pay on 1/4/22.

hyubh

MX5huggy said:

If all in 2015 scheme. Take you last statement balance multiply by 1.031 (inflation in September 2021 was 3.1%) 

That would be last year's revaluation though...?

Dazed_and_C0nfused

hyubh said:

MX5huggy said:

If all in 2015 scheme. Take you last statement balance multiply by 1.031 (inflation in September 2021 was 3.1%) 

That would be last year's revaluation though...?

That would be the one that appears on the 2023 statement though.

I think the 1 April 2023 increase is a day after the 2023 statement runs to.

You could then add 10.1% to the total at 31 March 2023 but that's slightly more upto date than the latest statement would probably be.

MX5huggy

The revaluation has been moved to 6th April, Statement Date is March 31st.