How much pension you build up in the LGPS all starts with your pay. Each year, 1/49th of your pensionable pay (or 1/98th if you're in the 50/50 section) is added to your personal pension account. For example, if you earn £25,000 in a year, then £510.20 (that's a 1/49th slice) is added to the pension you’ll receive when you retire - a little boost that grows year after year.
Once a year, your pension is increased in line with the cost of living, using the Consumer Prices Index (CPI) from the previous September. For example, the September 2025 CPI was 3.8%, so your pension account receives a 3.8% increase on 1 April 2026.
If you have more than one job, you'll have a separate LGPS pension account for each role, helping you keep everything clear and transparent.
To dig deeper into how the scheme works (and watch the Pensions Made Simple video), visit the LGPS website.
You can also keep an eye on how your LGPS pension is growing by logging in to your secure online account on My Oxfordshire Pension.