Planning Your Retirement The Local Government Pension Scheme

You can reduce or avoid the reductions by delaying payment until a later date. If you are a woman aged 60 ormore and you choose to delay payment of your benefits so they are not reduced, we have to pay you the GMPelement of your pension from your retirement date.Here is the early retirement reduction table if you want to work out how much your reduction would be. Wherethe number of years is not exact, we adjust the reduction percentages accordingly.No. of yearspaid earlyPension reductionmenPension reductionwomenLump sumreduction0 0% 0% 0%1 6% 5% 2%2 11% 10% 5%3 16% 15% 7%4 20% 19% 9%5 24% 23% 12%6 28% 27% 14%7 32% 30% 16%8 35% 33% 18%9 38% 36% 20%10 41% 39% 22%11 44% 42% 24%12 47% 45% 26%13 50% 47% 27%14 52% 49% 29%15 54% 51% 31%The reduction is based on the length of time (in years and days) that you retire early - from the date yourbenefits are paid to age 65 or the date you would have satisfied the 85-year rule.As we describe earlier, if you are paying into the LGPS on 30 September 2006, some or all of your benefits paidearly may not be reduced by as much.15