From the 1st April 2014 benefits are built up in the Career Average Revalued Earnings Scheme known as CARE. Each pay period 1/49th of your gross pay is added to your Pension Account and that is the amount of pension that you have earned each year at retirement. The Pensions Modeller will illustrate how your Pension Account could build up.
Still want more information? Please feel free to watch the "How your pension works" video courtesy of the LGPSMember.org team below:
(Captions Available: CC)
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