What is the process?
If you are planning to take your deferred benefits, the process will normally involve the following steps:
When can I take my benefits in full?
Your deferred benefits will be paid in full if you take them at your Normal Pension Age.
For benefits built up from 1 April 2014 onwards, your Normal Pension Age is linked to your State Pension Age, with a minimum age of 65.
Most benefits built up before 1 April 2014 continue to have a protected Normal Pension Age of 65.
What if I take my benefits early?
You can choose to take your deferred benefits from age 55 (age 57 from 6 April 2028).
You do not need your former employer's consent to do this.
If you take your benefits before your Normal Pension Age, they will normally be reduced because they are being paid for a longer period.
Could the 85 Year Rule apply to me?
If you were a member of the LGPS between 1 April 1998 and 30 September 2006, you may have protection under the 85 Year Rule. The rules are complex and the level of protection depends on your individual circumstances.
Read more about the 85 Year Rule →
What if I delay taking my benefits?
You do not have to take your pension at your Normal Pension Age.
You can choose to delay payment of your benefits up to age 75.
If you take your benefits after your Normal Pension Age, they will normally increase because they are paid for a shorter period.
Can I take part of my pension as a lump sum?
When you take your pension, you can normally exchange part of your annual pension for a one-off tax-free lump sum.
Commuting pension will increase the lump sum you receive at retirement, but it will reduce the annual pension paid to you for the rest of your life.
Read more about commuting pension for a lump sum →
Can I take my small pension as a one-off lump sum?
Depending on the value of your pension benefits, you may be able to take your pension as a one-off lump sum rather than receiving ongoing pension payments.
Only if we believe you may meet the relevant criteria will the option to take a small pension as a lump sum be provided.
Read more about taking a small pension as a lump sum →
What happens if ill health prevents me from working?
If ill health prevents you from working, you may be able to take your deferred pension before your Normal Pension Age, subject to the relevant criteria being met.