R85 pension

Drillsalter

I am 60 years old. I have worked part time in schools for 25 years and have a LGPS. It has been agreed that I can reduced my 3 days working week to 2, and reduce my 52 weeks to a 38 week contract with my wages being paid over 12 months. 

I have spoken to pensions dept about taking Flexible Retirement and I would be covered by the R85 rule. I came away from the conversation without any real answers and confused.

Is it on the whole more beneficial to take flexible retirement, than reducing my wage by over 50%.
I don't earn enough to pay tax, and don't claim any benefits. So with the reduction of hours my income will be very small.

My husband earns a reasonable wage, and is not looking to retire anytime soon. 

I don't want to make a mistake by reducing hours, rather than taking Flexible Retirement. 

Any advice or thoughts would be grateful appreciated.

Silvertabby

Your R85 protections only apply to your pre 2008 pension.  If you do go for flexi retirement, then you could opt to take your (unreduced) pre 2008 benefits only, and leave your later accruals deferred until NRA (or when you fully retire, if earlier). 

Or you could take all of your pension, but your 2008 to 2014 benefits would be reduced for payment before 65, and your 2014 to date of leaving benefits would be reduced for early payment before 67/SPA.  You would then start another CARE only pension in respect of your new, reduced hours, contract.