Taking your pension

Your LGPS pension is payable in full from your Normal Pension Age which is linked to your State Pension Age (but with a minimum of age 65). However, you can choose to retire and take your pension from the LGPS at any time from age 55 to 75, provided you have met the 2 years vesting period in the scheme. If you choose to take your pension before your Normal Pension Age it will normally be reduced, as it's being paid earlier. If you take it later than your Normal Pension Age it's increased because it's being paid later. You must take your benefits in the LGPS before your 75th birthday.

If you are obliged to retire because of redundancy, business efficiency or permanent ill health, your LGPS benefits can, provided you have met the 2 years vesting period in the scheme, provide you with an immediate retirement pension, which may even be enhanced. Please note, ill health retirement is covered in the separate ill health retirement section.

If you voluntarily choose to retire before, on or after your Normal Pension Age you can defer taking your benefits but you must take them before age 75. If you take your pension after your Normal Pension Age, your benefits will be paid at an increased rate to reflect late payment.

To find out more about how your pension benefits are calculated refer to the section called How your pension is worked out

There are specific rules relating to each type of retirement, so the sections below look at the different ways of retiring, and the implications.

Voluntary Retirement

Flexible Retirement

Redundancy or Business Efficiency early retirement

Tax controls and your LGPS benefits

There are HM Revenue and Customs controls on the pension savings you can have before you become subject to a tax charge when you take them (over and above any tax you will pay on your pension when it is in payment). You can find out about HM Revenue and Customs controls on your pension savings from the section on Tax controls and your LGPS Benefits.