Need advice on LGPS - cash-in or not?

ToTo_Man

johndough wrote: »

Also there is still ILL Health cover for your mother with the LGPS, up until 65 should she be too ill to work and makes a successful claim.

I'm not sure I follow, as my mother stopped working, and thus stopped contributing to the LGPS, in August 2012.

System

Hi

YES she may have done, but while sheis a DB or PB (Deferred benefit or Preserved benefit) benefits are still in place.

Ill health cover, Death benefit cover etc. etc; they may be small but they still exist. Therefore a retrospective claim for incapacity can be made to her previous employer to bring her benefits into payment if successful.

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When can they be paid earlier?

On ill health grounds at any age, without reduction, if you are no longer capable of performing the duties of your old job. You should contact your former employer to arrange a medical, if this applies to you.
You can request early payment of your deferred benefits from age 50, but you must have your former employer’s permission for payment before age 60 and your benefits may be reduced.
Employees in England and Wales who left the LGPS after 31 March 2008 - when you can receive your deferred benefits will be different.
Employees and councillors in Scotland who left the LGPS after 31 March 2009 - when you can receive your deferred benefits will be different.


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atush

Investing in property is a completely daft idea and should not be contemplated.

If she is of good health, then she should wait til 65. If she isn't of good heath, she should take the pension early (but with the lowest liump sum and highest income).

Who is the CA for? for her. or is she looking after someone? Did she leave work in 2012 due to ill health?

MMF007

Sorry to say that you cannot take pension from the 3 incarnations of the scheme at different times. If you choose to start receiving your LG pension it is just that, your pension, albeit that some of the component parts have different accrual rates etc.

I am not i can post a link so,have quoted the LGPS2014 guidance that explains this: Paying in before April 2014

All pensions in payment or built up before April 2014 are protected. If you are currently in receipt of a pension or have left with a deferred pension the changes from April 2014!do not!affect you.

If you are currently a contributing scheme member, your pre-April 2014 pension will still be based on your final year’s pay when you leave and the current Normal Pension Age.

When you choose to take your benefits remember that your pension is paid together, at the same time. You cannot take your pension relating to benefits built up to April 2014 at a different date to your pension built up from April 2014.

ToTo_Man

atush wrote: »

Who is the CA for? for her. or is she looking after someone? Did she leave work in 2012 due to ill health?

She receives the CA for me.

ToTo_Man

MMF007 wrote: »

Sorry to say that you cannot take pension from the 3 incarnations of the scheme at different times. If you choose to start receiving your LG pension it is just that, your pension, albeit that some of the component parts have different accrual rates etc.

I am not i can post a link so,have quoted the LGPS2014 guidance that explains this: Paying in before April 2014

All pensions in payment or built up before April 2014 are protected. If you are currently in receipt of a pension or have left with a deferred pension the changes from April 2014!do not!affect you.

If you are currently a contributing scheme member, your pre-April 2014 pension will still be based on your final year’s pay when you leave and the current Normal Pension Age.

When you choose to take your benefits remember that your pension is paid together, at the same time. You cannot take your pension relating to benefits built up to April 2014 at a different date to your pension built up from April 2014.

If this is directed at me then I don't think it applies, because as stated in my OP my mum left her job (and stopped contributing to her LGPS) in August 2012.

MMF007

Somene posted about taking the different incarnations of LGPS at different times, sorry if that wasn't u, OP. Paying in before 2014 and starting taking pension afterwards would still mean 2 incarnations in one pension pot that cannot have split starting dates.
[Note to self, check who needed the advice before copying n pasting 'useful' info...:D]

ToTo_Man

MMF007 wrote: »

Somene posted about taking the different incarnations of LGPS at different times, sorry if that wasn't u, OP. Paying in before 2014 and starting taking pension afterwards would still mean 2 incarnations in one pension pot that cannot have split starting dates.
[Note to self, check who needed the advice before copying n pasting 'useful' info...:D]

No worries!