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AIBU?

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LGPS, is it worth it?

1 reply

PrettyPleaseXo · 26/01/2025 15:33

I'm currently enrolled in the LGPS pension scheme and my current gross wage is £20,500 a year with a 5.5% pension rate at the moment plus an additional £70 paid in monthly via AVC.

I'm 31 years old and trying to figure out what my pension pot will look like after 30 years. I understand my wage will increase over this time so I'm trying to get a basic understanding.

Could anyone help me out?

Thank you!

OP posts:
JamMakingWannaBe · 26/01/2025 15:50

You will only have a "pot" from your AVC contributions - your LGPS is "defined benefits" which means whatever happens to investments/stock markets over time you will receive a "guaranteed" payment.
Log into your LGPS portal for your annual statement/forecast.

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