Planning to retire early

If you are leaving your employment voluntarily at age 55 or over, your LGPS benefits can be paid at a reduced rate from the day after you leave your employment. Once we receive notification from your employer that you have left we will contact you with your options.

To find out more about how we process your benefits into payment, see preparing for retirement.

The Government changed the reductions on 3 July 2023. The reductions shown below apply to retirements from that date:

Years EarlyPension Reduction (%) - All MembersRetirement Grant Reduction (%) - All Members
00.0%0.0%
14.9%1.7%
29.3%3.3%
313.5%4.9%
417.4%6.5%
520.9%8.1%
624.3%9.6%
727.4%11.1%
830.3%12.6%
933.0%14.1%
1035.6%15.5%
1139.5% 
1241.8% 
1343.9% 
 

If you retired before the 3 July 2023 the following percentages apply:

Years EarlyPension Reduction (%) - All MembersRetirement Grant Reduction (%) - All Members
00.0%0.0%
15.1%2.3%
29.9%4.6%
314.3%6.9%
418.4%9.1%
522.2%11.2%
625.7%13.3%
729.0%15.3%
832.1%17.3%
935.0%19.2%
1037.7%21.1%
1141.6% 
1244.0% 
1346.3% 

Warning: As your benefits may be reduced we suggest that all members obtain an estimate of benefits before submitting their notice of leaving to their employer. You can run your own estimate using the mypension online service. You will need to register to be able to use the mypension online service.

If you are a deferred member and wish to access your benefits at age 55 or over, see elect to receive benefits.