You can retire and get your Local Government Pension Scheme (LGPS) benefits when you’re 65.
Early retirement
If a Strathclyde Pension Fund approved doctor certifies that you are unable to work due to illness and you have been in the LGPS for 2 years, you may be eligible to retire early due to ill health from any age.
You can write to your employer and have your pension from 60 onwards if you leave work.
If you leave work, you may be able to have your pension from as early as 55 provided your employer’s policy statement allows you to do this.
If you voluntarily retire before 65, your pension and lump sum due may be reduced, see A Guide to the LGPS.
If you’ve been a member of the LGPS for at least two years and you are age of 55, 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.
Late retirement
If you are able to carry on working after the age of 65, you can choose to keep paying into the LGPS 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, see 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 should also consider financial advice .