diff --git a/CHANGELOG.md b/CHANGELOG.md
index da46315b6f..190771e8f8 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -189,6 +189,9 @@ The format is based on [Keep a Changelog](http://keepachangelog.com/en/1.0.0/).
 - Fixed a visual bug in the progress bar display initialization ([#4579](https://github.com/PyTorchLightning/pytorch-lightning/pull/4579))
 
 
+- Fixed `reinit_scheduler_properties` with correct optimizer ([#5519](https://github.com/PyTorchLightning/pytorch-lightning/pull/5519))
+
+
 ## [1.1.4] - 2021-01-12
 
 ### Added
diff --git a/pytorch_lightning/accelerators/legacy/dp_accelerator.py b/pytorch_lightning/accelerators/legacy/dp_accelerator.py
index 5bee429597..9c1cd7aa7d 100644
--- a/pytorch_lightning/accelerators/legacy/dp_accelerator.py
+++ b/pytorch_lightning/accelerators/legacy/dp_accelerator.py
@@ -146,30 +146,6 @@ class DataParallelAccelerator(Accelerator):
             output = output.mean()
         return output
 
-    def reinit_scheduler_properties(self, optimizers: list, schedulers: list):
-        """
-        Reinitialize optimizer.step properties added by schedulers
-        """
-        for scheduler in schedulers:
-            scheduler = scheduler['scheduler']
-
-            for optimizer in optimizers:
-                # check that we dont mix users optimizers and schedulers
-                if scheduler.optimizer == optimizer:
-                    # Find the mro belonging to the base lr scheduler class
-                    for i, mro in enumerate(scheduler.__class__.__mro__):
-                        is_regular_scheduler = optim.lr_scheduler._LRScheduler
-                        is_lr_reduce_on_plateau = optim.lr_scheduler.ReduceLROnPlateau
-                        if is_regular_scheduler or is_lr_reduce_on_plateau:
-                            idx = i
-                            state = scheduler.state_dict()
-                        else:
-                            state = None
-
-                scheduler.__class__.__mro__[idx].__init__(scheduler, optimizer)
-                if state is not None:
-                    scheduler.load_state_dict(state)
-
     def get_reference_model(self, model) -> LightningModule:
         if isinstance(model, torch.nn.DataParallel):
             model = model.module
diff --git a/pytorch_lightning/trainer/optimizers.py b/pytorch_lightning/trainer/optimizers.py
index a00c8b5fbf..6772dcc645 100644
--- a/pytorch_lightning/trainer/optimizers.py
+++ b/pytorch_lightning/trainer/optimizers.py
@@ -149,6 +149,7 @@ class TrainerOptimizersMixin(ABC):
         # Reinitialize optimizer.step properties added by schedulers
         for scheduler in schedulers:
             scheduler = scheduler['scheduler']
+            state = None
 
             for optimizer in optimizers:
                 # check that we dont mix users optimizers and schedulers
@@ -156,14 +157,13 @@ class TrainerOptimizersMixin(ABC):
                     # Find the mro belonging to the base lr scheduler class
                     for i, mro in enumerate(scheduler.__class__.__mro__):
                         if mro in (optim.lr_scheduler._LRScheduler, optim.lr_scheduler.ReduceLROnPlateau):
-                            idx = i
                             state = scheduler.state_dict()
-                        else:
-                            state = None
+                            scheduler.__class__.__mro__[i].__init__(scheduler, optimizer)
+                            scheduler.load_state_dict(state)
+                            break
 
-                scheduler.__class__.__mro__[idx].__init__(scheduler, optimizer)
                 if state is not None:
-                    scheduler.load_state_dict(state)
+                    break
 
 
 class _MockOptimizer(Optimizer):
diff --git a/tests/models/test_amp.py b/tests/models/test_amp.py
index c9f6ea05ad..509e60ceca 100644
--- a/tests/models/test_amp.py
+++ b/tests/models/test_amp.py
@@ -16,6 +16,7 @@ from unittest import mock
 
 import pytest
 import torch
+from torch import optim
 
 import tests.base.develop_pipelines as tpipes
 import tests.base.develop_utils as tutils
@@ -188,9 +189,15 @@ def test_amp_without_apex(tmpdir):
 @pytest.mark.skipif(not _APEX_AVAILABLE, reason="test requires apex")
 def test_amp_with_apex(tmpdir):
     """Check calling apex scaling in training."""
+    class CustomModel(EvalModelTemplate):
+        def configure_optimizers(self):
+            optimizer1 = optim.Adam(self.parameters(), lr=self.learning_rate)
+            optimizer2 = optim.SGD(self.parameters(), lr=self.learning_rate)
+            lr_scheduler1 = optim.lr_scheduler.StepLR(optimizer1, 1, gamma=0.1)
+            lr_scheduler2 = optim.lr_scheduler.StepLR(optimizer2, 1, gamma=0.1)
+            return [optimizer1, optimizer2], [lr_scheduler1, lr_scheduler2]
 
-    model = EvalModelTemplate()
-
+    model = CustomModel()
     trainer = Trainer(
         default_root_dir=tmpdir,
         max_epochs=1,
@@ -201,4 +208,7 @@ def test_amp_with_apex(tmpdir):
     assert str(trainer.amp_backend) == "AMPType.APEX"
     trainer.fit(model)
     assert trainer.state == TrainerState.FINISHED, f"Training failed with {trainer.state}"
-    assert trainer.dev_debugger.count_events('AMP') == 10
+    assert trainer.dev_debugger.count_events('AMP') == 20
+
+    assert isinstance(trainer.lr_schedulers[0]['scheduler'].optimizer, optim.Adam)
+    assert isinstance(trainer.lr_schedulers[1]['scheduler'].optimizer, optim.SGD)