You can retire and get the full Local Government Pension Scheme (LGPS) benefits when you’re 65.
You can choose to retire either younger or older; there are also provisions in place should you be forced to retire due to ill health.
Early retirement
If you’ve been a member of the scheme for at least two years, there are special circumstances when you may be eligible for your pension early:
If a Strathclyde Pension Fund approved doctor certifies that you are unable to work due to illness, you may be eligible to retire early due to ill health.
You can write to your employer and choose to retire at the age of 60 onwards.
You may also choose to retire from 55 (from 50 up to 5 April 2010 if you joined the scheme before 6 April 2006) but only if your employer agrees. Check your employer’s policy statement to see if they will allow you to do this.
If you voluntarily retire early, your pension and the lump sum due will be reduced. For more details on how this reduction is calculated, download A Guide to the LGPS.
If you’ve been a member of the scheme for at least two years and you are age of 55 (age 50 up to 5 April 2010 if you joined the scheme before 6 April 2006), your employer can consider a request for flexible retirement provided that your request is in line with your employer's published policy.
A request to your employer simply to reduce your hours or to move to a position with a lower grade does not in itself constitute an application for flexible retirement.
If the employer accepts your request for flexible retirement, you may draw the pension benefits you have already built up - while still receiving wages from your job.
You can also continue to contribute to the LGPS to build up more benefits. If you’re getting benefits paid before 65, your LGPS benefits may be reduced.
For full details on the conditions for early retirement and how it may affect your benefits, download A Guide to the LGPS.
Late retirement
You may choose to carry on working after the age of 65. You can choose to keep paying into the scheme and receive your pension:
- when you retire, or;
- when you choose - if your employer has agreed to allow you to take flexible retirement (see above), or;
- on the eve of your 75th birthday.
By receiving your pension after the age of 65 the lump sum and pension payments will be increased, because it will be paid for a shorter time. Your pension must be paid before your 75th birthday. For full details of late retirement download A Guide to the LGPS.
Making the decision
Making the decision to retire early or late can be difficult if you don’t know exactly what benefits you’ll be due. Retiring early without enough in your pension can leave you short of money.
To help you make the decision, use the benefit calculator to estimate your final pension.
You can also get financial advice - see the financial advice page of this site.
More information
For more information about membership, you can download A Guide to the LGPS, with full details of all the features and how to take advantage of them, to print out and read when you want. If you would rather receive a copy by post, contact us.
If you’ve got further questions, visit the employee member frequently asked questions page of this site.