Members are now entitled to draw their pension benefits from the scheme in a pensionable employment from their 55th birthday to the eve of their 75th birthday. Please note that actuarial reductions will apply if drawn earlier than your normal pension age. You must have ceased your pension employment before you can draw your pension benefits. If you have opted out of the scheme, this ruling still applies, and you will have had to cease your employment in the relevant post in order to access your pension benefits.
You must have also vested in the scheme in order to be entitled to your pension benefits
- You have been a member of LGPS in England and Wales for 2 years or more years, or
- You hold deferred benefits in England and Wales, or
- You are receiving a pensionable income from LGPS in England and Wales (including survivors or pension credit member's pension), or
- Previously transferred pension rights into the LGPS in England or Wales from a previous pension scheme that when added to your LGPS membership totals 2 or more years, or
- Previously transferred pension rights out of LGPS in England or Wales to a pension scheme abroad, or
- You paid National Insurance contributions whilst a member of the LGPS and cease contributions to the LGPS in the tax year of reaching your Normal Pension Age, or
- You reach your 75th birthday and are still contributing into the scheme
- you have transferred previous pension rights from a scheme or arrangement that didn’t permit a refund
To be entitled to your pension benefits you must have:
Working beyond 75 years old
If a member works beyond their 75th birthday neither the LGPS or auto enrolment requirements apply, meaning that they cannot continue to pay contributions into the scheme and accrue additional pensionable benefits.
You must draw your pension by no later than age 75, meaning that a retirement date shall be defaulted to the eve of your 75th birthday, whilst members can continue to work in their post if they wish.