LGPS AVC

Silvertabby

Pipkin1812 said:

Hi. Maybe obvious and possibly daft question but does anyone know if the lump sum built up before 31 March 2008 is also protected from reduction by R85 if retiring at 60? Thanks

Yes, as long as you do meet R85 at 60.

Pipkin1812

Many thanks Silvertabby. 

Am I right in thinking that pension built up from 2008 and 31 March 2014 is assessed under protected pensionable age i.e. 65 rather than NPA. (Been a member since 1983). Just trying to work out various reduction scenarios. Thanks 

jamjar92

Pipkin1812 said:

Many thanks Silvertabby. 

Am I right in thinking that pension built up from 2008 and 31 March 2014 is assessed under protected pensionable age i.e. 65 rather than NPA. (Been a member since 1983). Just trying to work out various reduction scenarios. Thanks 

I started a few years later, and mine is not protected, ie if take the pension at 60, this element is subject to 5 years reduction, and CARE element 7, only the pre 2008 is. However, It all depends on your DOB, check your scheme rules.

Pipkin1812

jamjar92 said:

I started a few years later, and mine is not protected, ie if take the pension at 60, this element is subject to 5 years reduction, and CARE element 7, only the pre 2008 is. However, It all depends on your DOB, check your scheme rules.

Thanks.  That’s what I thought. I am 56 (born in 1964) - pre 2008 protected under R85, 2008-2014 protected pensionable age of 65 and CARE normal pensionable age of 67. I think I’ve got that right?

Silvertabby

Pipkin1812 said:

jamjar92 said:

I started a few years later, and mine is not protected, ie if take the pension at 60, this element is subject to 5 years reduction, and CARE element 7, only the pre 2008 is. However, It all depends on your DOB, check your scheme rules.

Thanks.  That’s what I thought. I am 56 (born in 1964) - pre 2008 protected under R85, 2008-2014 protected pensionable age of 65 and CARE normal pensionable age of 67. I think I’ve got that right?

Yes, that's right.