This snapshot taken on 18/11/2008, shows web content selected for preservation by The National Archives. External links, forms and search boxes may not work in archived websites.
LOCAL GOVERNMENT PENSION SCHEME
EARLY RETIREMENT UNDER REGULATION 31(4)
Percentage Reduction in Accrued Retirement Benefits
(Elections applicable immediately on cessation of service)
Years |
Pension Reduction (%) |
Lump Sum Reduction |
||
Early |
Males |
Females |
All Members % |
|
0 |
0 |
0 |
0 |
|
1 |
8 |
7 |
2 |
|
2 |
15 |
13 |
5 |
|
3 |
22 |
18 |
7 |
|
4 |
28 |
23 |
9 |
|
5 |
33 |
27 |
11 |
|
6 |
37 |
31 |
14 |
|
7 |
40 |
35 |
18 |
|
8 |
43 |
39 |
21 |
|
9 |
46 |
42 |
24 |
|
10 |
48 |
45 |
26 |
|
11 |
50 |
47 |
28 |
|
12 |
52 |
49 |
30 |
|
13 |
54 |
51 |
32 |
|
14 |
56 |
53 |
34 |
|
15 |
58 |
55 |
36 |
|
Notes:
(1) The number of "years early" is the period between the dates (a) and (b) below, where:
(a) is the date from which the member has elected to receive his retirement benefits immediately under Regulation 31(1), and
(b) is the date on which the member attains age 65 or (if earlier) the date on which the member satisfies the "Rule of 85".
(2) The member satisfies the "Rule of 85" if his age (in whole years) plus his total membership (in whole years), plus the period (if any) between termination of local government employment and the date he elects, equals 85.
(3) Where the number of "years early" is not exact, reduction factors should be interpolated for part years.
Updated: