If you have been a member of the Local Government Pension Scheme (LGPS) for at least 2 years, or you have transferred pension rights into the scheme, you are entitled to LGPS benefits.
Under some pension arrangements you can draw down or withdraw cash from your pension however this does not apply to your LGPS pension. If your pension includes a lump sum, you must take it at the same time as your annual pension.
You can take your benefits for several reasons:
Normal retirement
You can retire and receive your full LGPS benefits at normal pension age. Find out about normal retirement
Early retirement at your request
You can take your pension from age 55 to normal pension age. Your benefits may be reduced to take account of being paid early. Find out about early retirement at your request
Redundancy and business efficiency
If your employer makes you redundant or retires you on the grounds of business efficiency after age 55, your pension benefits built up to the date you leave are payable. They may not be reduced to take account of being paid early. Find out about redundancy and business efficiency
Flexible retirement
If you want to have a gradual move into retirement after age 55, you may be able to reduce your hours or move to a less senior position and take some or all of the pension benefits you have built up. Your employer must agree. Find out about flexible retirement
Late retirement
If you carry on working after normal pension age, you continue to build up further benefits. They are paid at an increased rate for receiving them after your normal pension age. Your pension must be paid by your 75th birthday and you can no longer pay into the scheme after that date. Find out about late retirement
Ill health retirement
If you have more than 2 years membership in the scheme and your employer (based on an opinion from an independent specially qualified doctor) agrees that you are unable to do your job due to illness, you may be able to receive payment of your benefits at any age. There are 3 levels of ill health benefits based on how likely you are to be capable of undertaking gainful employment after you leave. Find out about ill health retirement
Age 75
You can carry on working past age 75 but you cannot contribute to the LGPS. You must take your LGPS benefits. Find out about taking your benefits at age 75
Estimates
We send you an annual benefit statement each year. This provides an illustration of the pension you have built up. It does not show reductions that may apply if you take your pension before your normal pension age.
When you are thinking of taking your pension you need a more accurate estimate. You must ask your employer to request the estimate because they provide us with your pay details. If you do not know who your employer is, you should ask your line manager.
Your employer makes the request for an estimate within 6 months of when you want to take your pension. We write to you detailing your pension amounts. If you need help to understand your estimate, read the guide to your estimate documents