50/50 Option
Thinking of leaving? Did you know you can opt to join the 50/50 scheme and pay half the contributions you would do in the full scheme. Below provides all the information you need to make the decision right for you.
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What is the 50/50 option?
This option is only available for LGPS members.
If you’re a member of the LGPS scheme, you can choose the 50/50 option and pay half the contributions you normally would in the main scheme for half the retirement income.
This gives you the flexibility to reduce your contributions if needed and continue paying into your pension.
How does it work?
The LGPS is split into two sections: the main section and the 50/50 section.
In the main scheme, you pay the normal contribution rate in return for normal pension build up. With then 50/50 option, you pay half the normal amount of contributions each month. Your pension account then builds up at half the rate of the main scheme.
You are still entitled to full death benefits and ill health benefits with the 50/50 option.
Find more information on the LGPS website.
What are the benefits?
If you’re looking to make savings, the 50/50 option is designed as a temporary measure, so you don’t have to completely opt out of the LGPS.
By halving your monthly contributions, less money is taken from your salary but your pension continues to build up at half the rate.
You can also switch between the main scheme and the 50/50 option as often as you like.
How do I move to the 50/50 option?
Simply download the 50/50 option form from our Forms and Documents page below.
Fill in the form and give it to your employer/payroll department.
Hear from our members!
Find out how the 50/50 option helped Elizabeth keep her pension contributions while she was on maternity leave.
