Planning Your Retirement - THE LOCAL GOVERNMENT PENSION ...

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ContentsIntroduction 3Planning your Retirement 5LGPS Retirement Benefits 7Calculating Retirement Benefits 10Default Retirement Age 12Options on Retirement 13Increasing your Pension Benefits 14Increases to your Pension 17Your State Pension 19Early Retirement 20Flexible Retirement 25Early Retirement throughRedundancy or Efficiency 26Ill Health Retirement 28Late Retirement 31Tax Matters 32How your RetirementBenefits will be paid 38After you Retire 39Protection for your Family 40Help with Pension Problems 42Glossary 44How to find us 48
Page 1: Planning Your RetirementThe Local G
Page 5 and 6: This guideis for membersof the Loca
Page 7 and 8: Opinion variesas to when is thebest
Page 9 and 10: Total MembershipThe first important
Page 11 and 12: CalculatingRetirementBenefitsAnnual
Page 13 and 14: DefaultRetirementAgeBetween April 2
Page 15 and 16: IncreasingYour PensionBenefits
Page 17 and 18: Buy extra membershipin the LGPSIf y
Page 19 and 20: Guaranteed MinimumPension (GMP)The
Page 21 and 22: EarlyRetirement
Page 23 and 24: If you joined the LGPS after30 Sept
Page 26 and 27: FlexibleRetirementCan I have a grad
Page 28 and 29: If you areaged 55 or over,your bene
Page 30 and 31: Tier 1: Immediate benefits can be p
Page 32 and 33: LateRetirementYourpensionhas to be
Page 34 and 35: HM Revenue and Customscontrols and
Page 36 and 37: ExampleTom is on a salary of £50,0
Page 38 and 39: Your Tax OfficeRegardless of where
Page 40 and 41: Trivial PensionsAt State Retirement
Page 42 and 43: For widowers the survivor’s pensi
Page 44 and 45: What you should doStage 1Write, wit
Page 46 and 47: Final payThis is the figure used to
Page 49 and 50: How tofind usFor SatNav users ourpo
Page 52:
Merseyside Pension Fund7 th FloorCa
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Planning Your Retirement - THE LOCAL GOVERNMENT PENSION ...

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