A deferred benefit is a pension benefit that is retained in the Local Government Pension Scheme (LGPS) until it becomes payable or is transferred out of the Fund.

 

Your deferred benefits increase every year in line with the cost of living [1] whilst they are deferred. Your pension will continue to receive cost of living increases every year once it is paid.

 

There are different rules on when you can receive your deferred benefits and how they are calculated, depending on the date you left the LGPS.