The Lincolnshire Pension Fund is part of the Local Government Pension Scheme. This is a tax-approved, occupational pension scheme.
The benefits under the scheme are built up each year, based on your pay.
The pension scheme features include:
- a lump-sum cash payment if you die while in service
- valuable pension benefits to your spouse, partner and children
- a tiered ill-health retirement package
- the opportunity to take your pension from the age of 55 to 75 (your pension may be reduced if you take it before your state pension age)
- an un-reduced pension from the age of 55 if you leave employment through redundancy or efficiency
- the option to reduce contributions and benefits by 50% in the 50/50 scheme
- the opportunity to buy additional scheme pension
- the option to make further additional contributions in to the Prudential AVC
The West Yorkshire Pension Fund provides the day-to-day administration of the scheme.