Redundancy or efficiency retirement
If you're facing redundancy or leaving your employment because of business efficiency, your LGPS benefits will be protected – whatever happens.
If you're thinking about applying for voluntary redundancy, you should speak to your employer. They'll be able to tell you about their administration process and if your request is likely to be granted.
Over age 55 and been in the scheme for two years or more?
If you're aged 55 or over and have been in the scheme for two years or more, your benefits are due immediately if you're made redundant or retired because of business efficiency. Unlike early retirement, no reductions are applied to your benefits.
However, if you have purchased any additional pension by paying:
- Additional Pension Contributions (APCs)
- Shared Cost Additional Pension Contributions (SCAPCs)
- Additional Regular Contributions (ARCs)
The additional pension will be reduced for early payment.
Any additional pension you paid for through a Qualifying Additional Pension Arrangement (QAPA) will not be reduced.
The Government has announced the earliest age that you can take your pension will increase from age 55 to 57 from 6 April 2028.
Under age 55?
If you're under age 55, you don't meet the rules for retirement under redundancy or business efficiency. To find out what will happen to your pension benefits, you should visit the page: Leaving the scheme before retirement.
