As a member…
You may want to get some advice
Flexible retirement has many benefits, but it’s a significant decision. You may want to get some professional advice as your savings may:
- decrease if you take out too much pension
- run out if you live longer than expected
- be affected by underperforming investments.
You need to tell your employer
If you’re interested in taking flexible retirement, contact your employer as soon as possible. They’ll:
- explain their flexible retirement policy
- tell you if they’ll reduce your pension if you retire before your State Pension age
- agree your retirement date
- give us your pay and leaving details
- pay any early retirement costs, if applicable.
If you retire after your State Pension age, your pension increases as you’ve contributed for longer.
What you’ll get
We’ll provide:
- a pension estimate within 10 working days (if your employer has given us the information we need)
- an application form to proceed with flexible retirement.
What you need to tell us
- if you’d like to swap any pension for a lump sum
- confirmation of attending a Pension Wise appointment if you’ve an in-house AVC
- your bank details.
What you need to send us
- a copy of your birth certificate or passport
- pension claim forms and any other requested certificates.
When you’ll be paid
- If with the Cambridgeshire Pension Fund: Paid on the last working day of the month.
- If with the Northamptonshire Pension Fund: Paid on the 25th of each month.
We aim to set up pensions within 5 working days after receiving completed forms. Lump sums are paid within 10 working days or the day after retirement, whichever is later. Timescales may vary if you have an in-house AVC or are affected by the annual allowance. You should take this into account when deciding how much notice to give.
You can still pay in if you want to
You can keep paying into the LGPS on reduced hours or grades to build up more pension. If you choose to opt out, let your employer know before you take flexible retirement. They can then make sure that no contributions are taken. Please don’t opt out before you flexibly retire. This could lead to your flexible retirement being refused.
Appeals
You can appeal any decision your employer makes, including rejecting your flexible retirement application. See our disputing an employer decision page for details.
