Lgps -cetv

pennystretcher

Let us know what the valuation comes back at? I'm also in LGPS but still some years to go before I can even think about retiring...

Deneb

Mine was 14x annual pension at age 59. Needless to say I left it where it was.

xylophone

diddy referred one from a job many moons ago of £410 with a lump sum of £1333.

If this is valued at £10,000 or under, I wonder would it be possible for you to access this as a "small pot"?

See under

Special rule for Occupational Schemes only

https://www.pensionsadvisoryservice.org.uk/content/publications-files/uploads/Taking_small_pensions_Quick_SPOT012_V1.7.pdf

Gin_and_Milk

Don't forget LGPS statements are due this month, and this time it will state a projection figure from age 55, not just your official retirement age.

Silvertabby

Gin_and_Milk wrote: »

Don't forget LGPS statements are due this month, and this time it will state a projection figure from age 55, not just your official retirement age.

Eek ! I'm so glad I'm retired - the 'phones will be even more in melt down mode once these hit the streets!

Gin_and_Milk

Silvertabby wrote: »

Eek ! I'm so glad I'm retired - the 'phones will be even more in melt down mode once these hit the streets!

I'm hoping my statement will tell me I can retire at 60 instead of 67. No chance of being able to go at 55 though!

imavillan

Bump

@Advice4sue, Did you get your valuation and what were your next steps.
Did you have to wait long for the CETV?

I have a pension with lgps and i am 55 in July of this year. I wish to take out all of my money and do something similar to yourself up to state pension age.

Is there a template letter asking for a CETV or is just writing a simple couple of lines asking for it?

thanks

JoeCrystal

imavillan wrote: »

Bump

@Advice4sue, Did you get your valuation and what were your next steps.
Did you have to wait long for the CETV?

I have a pension with lgps and i am 55 in July of this year. I wish to take out all of my money and do something similar to yourself up to state pension age.

Is there a template letter asking for a CETV or is just writing a simple couple of lines asking for it?

thanks

How about asking your LGPS administrator? They should know the answer to your question.

A simple, quick google suggests that there is a form you can download from the local council site and that you can only request a quote for free once a year. However, you have to be a deferred member in this case.

Why would anyone want to transfer out of LGPS is just beyond me.

imavillan

Thanks,

I've looked for my specific authority and can'y find anything so i'll write a letter.

As for taking my money out, it suits me as i have already retired and have a source of income and i only have 13 years worth of membership. I am not paying into this anymore. So waiting until i am 66 is pointless. My way of thinking is i transfer out and then i can draw down each year under the tax threshold till theres nothing left and effectively get the whole lot tax free.

JoeCrystal

imavillan wrote: »

Thanks,

I've looked for my specific authority and can'y find anything so i'll write a letter.

As for taking my money out, it suits me as i have already retired and have a source of income and i only have 13 years worth of membership. I am not paying into this anymore. So waiting until i am 66 is pointless. My way of thinking is i transfer out and then i can draw down each year under the tax threshold till theres nothing left and effectively get the whole lot tax free.

It is not that straight forward. You are aware that you need an IFA who is a pension transfer specialist in order to give you financial advice right?