Planning Your Retirement The Local Government Pension Scheme

Planning Your RetirementOpinion varies as to when is the best time to plan for your retirement. But whether you are planning yourretirement way ahead, taking early retirement, or about to retire, the earlier you take action the better.Income in RetirementHere are some of the things you need to consider:• Occupational Pensions including your Local Government Pension Scheme (LGPS) pension• State Pension and other State Benefits• Investments• Other earningsThere are many sources of information to help you make a decision about your retirement. You can contactthe Fund about your LGPS pension and your Personnel or Administration Officer can provide usefulinformation to help you plan your retirement.You can ask your Personnel Officer if there is a pre-retirement course available for you to attend – theseoften cover many topics – not just your LGPS pension.State Pension ForecastA state pension forecast tells you based on current rates, the amount of state pension you may get basedon your National Insurance contributions so far and the amount you may get when you claim it. You canget a forecast if you are living in the U.K. and are more than 30 days away from your state pension agefrom:Future Pension CentreThe Pension ServiceTyneview Park, Whitley RoadNewcastle upon Tyne, NE98 1BA or Telephone 0845 300 0168Tracing Pension RightsIf you have lost touch with a previous employer or pension provider and still have pension entitlementswith them, the Pension Tracing Service may be able to help by providing you with an up-to-date contactaddress.If you need to use this tracing service write to:The Pension Tracing ServiceThe Pension ServiceTyneview Park, Whitley RoadNewcastle upon Tyne, NE98 1BA or Telephone 0845 6002 537Remember to keep your pension providers up to date with any change in your home address.4