LGPS - had my hours reduced

Silvertabby

“ So it would be locked away and not payable straight away?
Originally posted by mozzy10 ”
No - without employer consent, you can draw a preserved LGPS pension early from 55. However, doing so would result in a heavy actuarial reduction for taking it so short of your normal pension age(s) in the scheme. Posted by hyubh

55 only applies to those who left and deferred their benefits on or after 1 April 2014. It's still 60 for anyone who left on or before 31 March 2014. OP - hyubh is right, if you take your benefits from 55 (as a post 2014 leaver) they would be reduced by over 50% for early payment.

hyubh

Silvertabby wrote: »

55 only applies to those who left and deferred their benefits on or after 1 April 2014. It's still 60 for anyone who left on or before 31 March 2014.

But mozzy10 will have only left 'first time around' after then. That said, the rules are likely to change for at some pre-2014 leavers in the not to distant future anyhow - for 2008 scheme leavers, it's in the upcoming amendment regs that have been in consultation since last May.