Late retirement

If you choose to carry on working after your Normal Pension Age you will continue to pay into the LGPS, building up further benefits.  You can receive your pension when you retire.  Your pension has to be paid by your 75th birthday.

 

If you retire at or after your Normal Pension Age you can, if you wish, defer drawing your pension but you must draw it by age 75.

 

Because you will have already passed your Normal Pension Age when you retire, there are no early retirement reductions to your benefits.  In fact, if you draw your pension after your Normal Pension Age your benefits will be paid at an increased rate.

The benefits are increased by national factors set by the government and these factors may change from time to time. The factors are under review at the moment and may change at short notice.

Any estimates of benefits you receive from Bedfordshire Pension Fund will use the factors in place at the time the estimate was produced.  It is possible that the factors may change between the time you receive the estimate and the date when you choose to have your benefits put into payment.

Please contact Bedfordshire Pension Fund if you need more information.