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FLEXIBLE RETIREMENT
If you have at least three months total membership or have brought a transfer value into the LGPS you may wish to consider the possibility of flexible retirement.
Before 1 April 2010, rather than continuing in your job to 65 and drawing your pension from then, you could from age 50, with your employer's consent, reduce your hours or move to a position on a lower grade and again with your employer's consent, draw some or all of the pension benefits you have already built up - helping you ease into retirement whilst still drawing your wages/salary from your job on the reduced hours or grade. You can continue paying into the LGPS to build up further benefits in the Scheme.
From 1 April 2010, the earliest age from which you can be granted flexible retirement is 55.
Will my pension be reduced if I take flexible retirement?
If you take flexible retirement before age 65, your pension may be reduced for early payment. Your employer may, however, determine not to apply all or part of any reduction; this is at your employer’s discretion.
