These pages are for employer use only. Member information can be found on the home page.
Scheme members aged 55 or over, with their employer’s agreement, can receive their LGPS pension and continue to work so long as there has been a reduction in hours or grade. There can be a ‘’fund strain’’ charge if flexible retirement is granted before Normal Pension Age (NPA) so it is important that employers ask the pensions team for a quote if they receive a request for flexible retirement.
An early retirement reduction will also apply to the members benefits if the “85 year rule” protections are not met, and employers have the option to waive this reduction in full or in part; but this will also incur a charge in respect of the “fund strain”.
What do the pensions team need to process a flexible retirement?
- Completed leavers form PEN007
- Copy of the agreement from the Head of Directorate and/or Head of Human Resources confirming the flexible retirement.
- P45 (if available) – this should be sent in order for income tax deductions from the pension to be assessed.