Dealing with change and financial planning

The Local Government Pension scheme provides the following pension benefits:

  • early retirement  - ou can choose to retire from age 60 and receive your benefits immediately, although they may be reduced for early payment. It’s also possible to retire from age 55 and receive your benefits immediately or if you are made redundant
  • flexible retirement for employees - from age 55, you could reduce your hours or move to a less senior position and, if your employer consents, draw your benefits – helping you ease into retirement, although your benefits may be reduced for early payment.
  • options to pay extra - you can boost your pension by paying extra pension contributions to purchase additional pension. You get tax relief on these too. 

Useful links and advice 

To help you decide whether to apply for voluntary redundancy, a 'ready reckoner' redundancy payment calculator [PDF] is available, which gives an indication of the redundancy payment you may qualify for.


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