Pension funds offer saving plans through which fund contributors build tax-deferred savings during their working years for their retirement.

The Royal Borough of Greenwich's pension fund is run in two parts: administration and investments.

This page is about how the scheme is run, we also have a page with information on what the pension scheme offers its members.

Administration

The Local Government Pension Scheme (LGPS) is a national pension scheme for local government employees, but it is administered locally.

The Royal Borough of Greenwich is responsible for the overall administration of the pension fund under the Local Government Pension Scheme (LGPS) regulations. These regulations detail the requirements for the management of your pension.

Investments

Pension fund investments are made according to the Local Government Pension Scheme (Management and Investment of Funds) Regulations as amended.

Pension changes 

Pensions changed from April 2014. All pensions in payment or built up before April 2014 will be protected. If you are currently in receipt of a pension or have left with a deferred pension these changes do not affect you. If you are currently a contributing scheme member, your pre-April 2014 pension will still be based on final salary when you leave and the current Normal Pension Age.

Find out more about the Local Government Pension Scheme changes (LGPS 2014 website)