When can I retire?

Reduction table for early retirement

Reduction table for early retirement
The table below shows how your pension will reduce if you retire before your normal retirement age.  Please note that if you were in the LGPS before 1 April 2014 your benefits built up before that date will have a different Normal Pension Age, which for most is age 65.

Number of years paid early Pension reduction Lump sum reduction 

1

5.1%

2.3%

2

9.9%

4.6%

3

14.3%

6.9%

4

18.4%

9.1%

5

22.2%

11.2%

6

25.7%

13.3%

7

29.0%

15.3%

8

32.1%

17.3%

9

35.0%

19.2%

10

37.7%

21.1%

11 

41.6%

N/A *

12 

44.0%

N/A*

13

 46.3%

N/A *

* Please note if you have pension benefits relating to pre 1st April 2008 service you would be entitled to an automatic lump sum retiring allowance. As the lump sum retiring allowance is payable without reduction at age 65, and the earliest voluntary date you can take it is age 55, the maximum reduction amount you can suffer on the lump sum is 10 years. Please also note all your benefits have to be taken at the same time so may not be payable until beyond age 65 (depending on your retirement date)