Local Government Pension Scheme
Official scheme logo | |
| Abbreviation | LGPS |
|---|---|
| Formation | 1922 |
| Type | Public service pension scheme |
| Purpose | Statutory, funded defined benefit occupational pension scheme for eligible employees of local authorities and participating employers. |
Region served | United Kingdom |
| Membership | England and Wales: 6.9 million (31 March 2025) Scotland: 670,051 (31 March 2024) Northern Ireland: 176,915 (31 March 2025) |
| Website | www |
Local Government Pension Scheme (LGPS) is the statutory, funded defined benefit pension scheme for employees of local government and participating employers in the United Kingdom. In England and Wales it is administered locally by 86 administering authorities, in Scotland by 11 regional funds, and in Northern Ireland as a single fund administered by the Northern Ireland Local Government Officers’ Superannuation Committee (NILGOSC).
As of March 2025, the scheme in England and Wales covered about 6.9 million members and held investments of about £402 billion.
The scheme design moved from final-salary benefits to career average revalued earnings in England and Wales from 1 April 2014, in Scotland from 1 April 2015, and in Northern Ireland from 1 April 2015. Funds are subject to triennial actuarial valuations to assess funding and set contribution strategies.
Since 2015 administering authorities in England and Wales have been directed by government to pool investments through authorised asset pools in order to achieve economies of scale and strengthen governance.