LGPS R85 protection entitlement question

leosayer

I searched previous threads and couldn't find an answer to this specific question.

My wife has continuous service since 1997 and intends to resign and stop working next year when she turns 55, meaning she will have 27 years of service. That adds up to 82.

She has a SIPP pot that could bridge the gap between age 55 and 60 before commencing the LGPS pension, if necessary.

What are my wife's options for commencing the LGPS pension with the R85 protections in place? 

Silvertabby

Unbroken deferred service also counts towards R85, so if your wife retires at 55 but leaves her benefits deferred until 60 then she will comfortably meet R85 in respect of her pre 2008 service.

Just to clarify, R85 remains linked to a minimum retirement age of 60 and, in your wife's case, only applies to her pre 2008 service.

Taking her benefits at 60 will mean that her accruals from 1 April 2008 to 31 March 2014 (NRA 65) will be reduced due to 5 years early payment, and her accruals from 1 April 2014 to her date of leaving (NRA SPA) will be reduced due to 7 (?) years early payment.

Andy_L

R85 applies to deferred members like you wife, so she would have to wait 3 years to reach it.

However taking un-reduced benefits under age 60 still requires the employers agreement even if R85 is met. Since she'd only be 58 and its unlikely they'd agree (what's their incentive?) she'd have to wait till age 60 when getting un-reduced pension becomes a right under R85

leosayer

Thanks all. Makes sense.