In line with regulation 68 (2) of the LGPS regulations, employers are required to make additional payments to the Fund in cases where members retire early with access to immediate payment of benefits in line with regulation 30 (5 to 8) for example under business efficiency or redundancy grounds.
Following the actuarial valuation in 2025, Mercers have now reviewed the early retirement strain cost factors and aligned them with the Fund's assumptions. The new factors can now be found on the early retirement page on our website.
This change will impact early retirement strain costs. If you have previously been provided with a quotation or estimate for future early retirements before 14 July 2026 and you have run another quotation since that date, the figures will look different due to these revised factors. We are not expecting the changes to be of material value. However, if you have any queries on this, particularly in respect of costs you may have already obtained before these changes took effect, please do not hesitate to contact us.
For more information on the retirement factors and the retirement process, please read our guides:
