Scheme Benefits

Very useful presentation. Everyone needs to consider pensions especially my younger colleagues

Attendee from recent session

This is a more general overview for future retirement planning. 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

We plan to run a Scheme Benefits training session in Mid-2022. Dates are still to be confirmed.

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Previous Sessions

This session was run on Monday 29 April 2021. You can leave feedback using our Online Feedback Form.

Questions and Answers

No, you can only transfer a previous pension in the first 12 months of joining the Scheme.

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.

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.

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.

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/

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.

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.