Benefits

Your deferred pension will stay in the LGPS until:

• you choose to take your deferred pension, or
• you transfer your deferred benefits to another pension arrangement.

These are benefits you still have in the LGPS after opting out or leaving.

Find out how we work out your deferred benefits here [link to ‘How we work out your pension’].

• Your deferred pension will increase each April in line with the cost of living. A death grant will generally be payable if you die as a deferred member. Your partner and children may also receive dependants’ pensions.
• Your deferred pension will stay in the LGPS until you either:
  • choose to start receiving it. You can generally take your deferred pension at any time between age 55 and 75. You may be able to take it earlier if you are too ill to work. See the Taking my benefits page for more details about your options when you take your deferred pension.

Or

• you transfer your deferred benefits to another pension arrangement. See Transferring out to find out more about pension transfers.

Special rules apply if

• you have more than one job in the LGPS; or
• your job moves to a private contractor.

You can take your LGPS pension at any time from age 55 to 75.

Take a look at the different options below.

Normal retirement

You receive your benefits in full if you choose to take them from your Normal Pension Age.

• For benefits built up from April 2014, your Normal Pension Age is your State Pension age, or age 65 if higher.
• For benefits built up before 1 April 2014 the Normal Pension Age for most people is protected, at 65.

You cannot take benefits you built up before and after 1 April 2014 separately – you must take your whole LGPS pension at the same time.

Early retirement

You can retire from age 55 onwards. Your benefits will normally be reduced because you’re taking them early. The earlier you take your pension, the lower your pension will be.

If you were a member of the LGPS between 1 April 1998 and 30 September 2006, some or all of your benefits could be payable in full before age 65 if you are protected by the 85-year rule. Find out more about the 85-year rule here.

Late retirement

If you take your deferred benefits after your Normal Pension Age your pension will be increased, because you are taking it later. You must take your deferred benefits by age 75.

Visit the Contact details page if you have any questions about taking your benefits.

Receiving your pension

We will pay your pension into your bank account on the 20th of each month (or the working day before the 20th if this isn’t a working day) and send you a P60 every April.

If you’re due a lump sum, or you’ve chosen to exchange some of your annual pension for a lump sum, you’ll receive that after you’ve retired.