What should I do if I think I might be affected?

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Tax stampBefore considering any action to reduce your tax liabilities you should always seek independent financial advice from an FCA registered adviser.
There are certain considerations that you may wish to take into account:
  • Converting annual pension for lump sum at retirement can reduce the capital value of your pension benefits
  • If you wish to slow down your pension build up the 50/50 section of the LGPS allows you to pay half your normal contributions and build up half your normal pension whilst still retaining full life and ill health cover
  • If you opt out of the LGPS with the right to a deferred benefit you will not be able to aggregate your benefits should you re-join the LGPS at a later date
If you have any questions about your LGPS membership or benefits, please contact us.