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Your pension at a glance

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Your local government pension scheme is now a career average pension scheme. You may also hear this type of scheme called a pension build up scheme.

That's because as each year goes by, you build up a set portion of your pay as a pension. That money is held in an individual pension account for you, then the next year - assuming prices go up - we increase the value of your pension account in line.

Then the next year, you build up a set portion of your pay for that year, and so on down the line.

It's a very fair way of building up benefits, since what you get is what you've paid for. For example, if you get a year where your pay is higher than usual - say because of overtime - that boosts your benefits just for that year.

Or if you get a spell where you reduce your hours and your pay falls, that just reduces your benefits for that period.

The new scheme only affects your new benefits going forward. If you were a member before April 2014, these benefits are all worked out in the old 'final salary' way.

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