Paying extra pension contributions will increase the benefits you receive at retirement. You may wish to seek independent financial advice.
You can increase benefits by:
The Local Government Pension Scheme (LGPS) regulations changed as of 1 April 2008:
- You can no longer increase your benefits through added years. You may still be paying added extra years contributions, if you entered into a contract before April 2008.
The LGPS regulations changed again as of 1 April 2014:
- You can no longer increase your benefits through additional regular contributions (ARCs). You may still be still paying ARCs if you entered into a contract before April 2014.