Is it worth paying into my LGPS pension after 63 years old

daveyjp

Calculating the annual pension under LGPS is straightforwards.

If you make full contriburions your annual pension will be 1/49th of the pensionable annual pay.  So if your annual pay is £24500 your pension will be £500 a year for life which increases each with inflation, plus other benefits such as spouse pension and death grant.

There may be a third way worth considering.  As you have LGPS benefits, are over 60 and are reducing hours have you asked about flexible  retirement?  This will allow you to draw your current pension, receive a salary and contribute to LGPS whilst working.