Very useful presentation. Everyone needs to consider pensions especially my younger colleagues
Attendee from recent session
This is a detailed overview for future retirement planning, including membership of the Final Salary Schemes before April 2015. This session will cover the use of Additional Voluntary Contributions and Additional Pension Contributions to boost pension savings, the different types of retirement, and will also cover what options are available if you leave the pension scheme before retirement. Topics covered include:
- Scheme Background
- Benefits of Being in the Scheme
- Increasing and Decreasing Your Contributions
- Leaving the Scheme before retirement
- Types of Retirement
- How Your Pension is Calculated
- Survivor Benefits
- My NILGOSC Pension Online
- Questions and Answers
Upcoming Sessions
Wednesday 11 September from 3pm to 4.30pm
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Previous Session
This session was held in January 2024. You always have the opportunity to leave feedback after attending one of our sessions using the Online Feedback Form.
Scheme Benefits Video Transcription (518KB, PDF)
Questions and Answers
I joined the Scheme a number of years ago, can I still transfer a previous pension pot into my NILGOSC pension?
No, you can only transfer a previous pension in the first 12 months of joining the Scheme.
What form do I complete for the APC – going on maternity leave and will have 3 months unpaid leave?
Contributions are payable at your normal contribution rate on whatever you get paid during your paid maternity leave. Contributions are due (on the pay you would have earned if you were working normally) for the first 30 days of your unpaid additional maternity leave. Your employer will confirm your lost pensionable pay for the remaining period of your unpaid additional maternity leave. You can then complete LGS27b within 30 days of returning to work.
Will NILGOSC/Prudential be running any specific sessions regarding AVCs in the near future?
NILGOSC employees aren’t able to give financial advice and the Prudential no longer offer this service. More information can be found in our Increasing Your Retirement Benefits Guide and if you are in any doubt we recommend you seek independent financial advice.
I have recently been employed by a NILGOSC employer. How do I know if my previous pension pot has been transferred? What are my next steps?
To investigate a transfer of a previous pension you will need to have completed form LGS8 within the first 12 months of joining. You can see transferred in benefits in My NILGOSC Pension Online.
Who should I speak to with regard to additional contributions for missed years in my NILGOSC pension
You can phone the office and request to talk to someone about APCs to cover lost pension. Information can be found on our website too: https://nilgosc.org.uk/members/boosting-your-pension/
I have a deferred pension with NILGOSC. Can I aggregate this with current pension with the council.
You can usually only do this in the first 12 months of re-joining the Scheme, however aggregation options can vary based on circumstances so I would recommend calling our office and an administrator will be able to give you a better idea for your specific circumstances.
When can you take your AVC fund without any penalties?
If you take your NILGOSC pension early, the AVC will not be reduced for early payment like your NILGOSC benefits will be, assuming you take it as a lump sum.