LGPS - McLoud judgement

JoeCrystal

mickybhoy67 said:

Hi, with regard to this new judgement. I am a deferred LGPS Scotland member with 34 years service and I am currently 53 years old.  I’m still a member of an LGPS scheme. Can I retire at 55 without any reductions now following the implementation of the McCloud judgement ?  

As hyubh pointed out, there are a lot of details up in the air about it and the Government barely started consulting on the LGPS. Here is the link to the document about the consultation. The consultation will close by 8th October 2020 so it will take some time before they decided on the solutions. You can read it and if it applies in your case

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/901173/Condoc_-_amendments_to_LGPS_underpin_-_FOR_PUBLICATION.pdf.

hyubh

mickybhoy67 said:

Hi, with regard to this new judgement. I am a deferred LGPS Scotland member with 34 years service and I am currently 53 years old.  I’m still a member of an LGPS scheme. Can I retire at 55 without any reductions now following the implementation of the McCloud judgement ?  

It hasn't been implemented yet, however given members with underpin protections weren't, by virtue of those protections, able to retire at 55 without an actuarial reduction, the answer is 'no'.

Silvertabby

hyubh said:

mickybhoy67 said:

Hi, with regard to this new judgement. I am a deferred LGPS Scotland member with 34 years service and I am currently 53 years old.  I’m still a member of an LGPS scheme. Can I retire at 55 without any reductions now following the implementation of the McCloud judgement ?  

It hasn't been implemented yet, however given members with underpin protections weren't, by virtue of those protections, able to retire at 55 without an actuarial reduction, the answer is 'no'.

The LGPS Rule of 85 was abolished for new joiners on or after 1 October 2006, with transitional protections for those who joined prior to that date.  Nothing to do with McCloud, which essentially deals with the much later switch from final salary to CARE.

In view of your age, your R85 protections will be limited to your pre 2008 service only.