LGPS self serve pension query with figures quoted

cambs1999

I'm looking on the LGPS self serve members site looking at my own figures for retiring early.

It's giving me a reduced figure but then below this figure it says your pension is being reduced by x amount due to leaving before NPA.

But if I deduct the x amount (the amount it's being reduced per year from my pension) from the figure if I stay until I'm 67 it's a lot higher the reduced figure quoted as my annual pension.

Which figure is correct and why the difference? Is the x amount being reduced each year including my protection for being a member pre 2008 and having some protection re the 85 year rule or is it not clever enough to work this out?

Anyone know a bit more about this system?

Thanks

Silvertabby

If your State pension age is 67 then you must be 56 or younger.

You will only have some R85 protections if you joined the LGPS before 1 October 2006 and then, as you say, only in respect of your pre 2008 service.

Your assumption is right - the system isn't clever enough to work out the early payment reduction properly. When are you looking to retire? If it's in the next 12 months, then your LGPS provider should be willing to run a quote for you showing the correct figures.