LGPS Added Years & The 85 Year Rule

the_seer

Hi LGPS gurus,


I have been making addition contributions to buy Added Years within the original 1/80ths LGPS scheme since 2007, and these are due to continue until my 65th birthday.
As I was an active LGPS member at the September 2006 cut-off date, my age and membership qualify me for the 85 year rule, which means the benefits I've built up to 31 March 2008 will not be reduced if I were to take them at age 60 (or over).
But does the 85 year rule also apply to my Added Years in that respect?
Or would that additional membership I have purchased be subject to a reduction for early payment, in the same way as my 2008 & 2014 scheme membership would be?


Thanks.

Silvertabby

Assuming that you are still buying added years, and didn't switch to pension purchase, if you retire at 60 then you won't complete your age 65 contract. You will therefore only be credited with the added years actually purchased.

Added pension/pension purchase would be subject to an actuarial reduction if taken before NRA.

the_seer

Thanks Silvertabby.
I was hoping/assuming that my Added Years would be paid without the actuarial reduction if taken before NRA, like my normal 1/80th membership due to the 85 year rule.