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Minimum retirement age in 2010
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Hi I work in local government and staff are being offered early retirement if they are 50 bfore the 1st of April 2010. I thought the date change was the 6th. This is very important to me as my 50th Birthday falls between these two dates Aaaaagh0
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6th April was the latest date that the change could take place; LGPS change takes place earlier than this.
The LGPS rules are that redundancy must take place before 31st March 2010 if a member aged at least 50 but less than 55 is to qualify for immediate payment of benefits (although this date may be being retrospectively amended to read before 1st April 2010). Incidentally, age 50 only applies at the moment if you were a member on 31st March 2008.
If you are not age 50 before 31st March 2010 (or before 1st April if the rules are amended) and are redundant before age 55, you won't get immediate benefits, but deferred benefits. These would not normally be payable before 60 and even then part of them may be reduced if paid before 65.
I realise this probably isn't good news for you....0
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