Poole Housing Partnership Ltd
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Pension Scheme

Pension Scheme.jpg
We offer the Local Government Pension Scheme, which is a defined benefit scheme, based on average salary.

Employees with more than 3 months’ service are eligible to join the scheme.

The key benefits of the pension scheme:

  • Tax-free cash – you have the option when you draw your pension to exchange part of it for some tax-free lump sum cash
  • Freedom to choose when to take your pension – you do not need to have reached your normal pension age in order to take your pension as, once you've been in the scheme for 2 years, you can choose to retire early and draw your pension at a reduced rate
  • Flexibility to pay more or less contributions – you have the option in the LGPS to pay half your normal contributions in return for half your normal pension. This is known as the 50/50 section of the scheme and is designed to help members stay in the scheme when times are financially tough. You can also boost your pension by paying more contributions, which you would get tax relief on
  • Peace of mind – your family enjoys financial security, with immediate life cover and a pension for your spouse, civil partner or eligible cohabiting partner and eligible children in the event of your death in service and, if you ever become seriously ill and you've been in the scheme for 2 years, you could receive immediate ill health benefits

Death Grant - if the unthinkable were to happen and you were to die in service, as a member of the LGPS:

  • there is a lump sum death grant equal to 3 times your assumed pensionable pay
  • A Survivors’ Pension would be paid to a spouse, civil partner or, subject to qualifying conditions, an eligible co-habiting partner, and pension for eligible children are payable
  • If you are in the 50/50 section of the scheme when you die this does not impact on the value of any pension for your spouse, civil partner, eligible cohabiting partner or eligible children

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