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This section gives you a little background about how the Fund is organised, who writes the Scheme rules, and so on.
The Local Government Pension Scheme, or LGPS, is a statutory final salary scheme, and its benefits are guaranteed by law. It is a contracted out scheme, which means it meets the requirements of the Department for Work & Pensions, because its benefits are at least as good as their model scheme. So as a member you are taken out of the State Second Pension (S2P), and pay less National Insurance.
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