Check how much money you could get when you retire
LGPS
You can use the benefit calculators in your pension account to see how much you could get when you retire. The retirement calculator lets you see how changes to the following could affect your annual pension:
- when you retire
- your pay
- the lump sum you take.
If you’ve another LGPS pension with a different Pension Fund that you’re no longer paying into, contact them to find out how much pension you could get.
State Pension
Most people will also get a State Pension. You can find out how much this could be on GOV.UK
Old pensions
Can you remember where you were working 10, 20 or even 30 years ago? You may have moved house several times since then and forgotten to let your pension provider know. If you’ve lost track of your old pensions you can use the Pension Tracing Service.
Retirement planner
Once you have the details above, you can try the retirement planner on your online pension account.
It helps you plan for your retirement in three simple steps:
Step 1: Choose the lifestyle that best matches the retirement you want:
- modest
- comfortable
- aspirational.
Step 2: The planner works out how much income you’ll need for that lifestyle.
Step 3: Compare your projected pension income with your target. You can then look at ways to close any gap, like:
- paying more into your pension
- changing when you retire.
