How much pension will I get LGPS?
How much pension will I get LGPS?
For membership built up to 31 March 2008, you receive a pension of 1/80th of your final pay plus an automatic tax-free lump sum of 3 times your pension. For membership built up from 1 April 2008 to 31 March 2014, you receive a pension of 1/60th of your final pay.
Can I take 25% of my local government pension?
You can take up to a maximum of 25% of the capital value of your LGPS benefits as a lump sum.
Can I take my local government pension at 55?
You can voluntarily retire and take your pension benefits at any age on or after age 55 and before age 75, provided you have met the 2 years vesting period in the scheme. If you choose to take your pension before your Normal Pension Age it will normally be reduced, as it’s being paid earlier.
Is the LGPS a good pension?
The LGPS is a tax approved, defined benefit occupational pension scheme set up under the Public Services Pensions Act 2013. It is very secure because the benefits are set out in law.
Which is pension fund administers Derbyshire County Council?
Derbyshire Pension Fund administers the Local Government Pension Scheme (LGPS) on behalf of Derbyshire County Council. If you’re a member of the LGPS, visit the Derbyshire Pension Fund website. Looking for something?
How can I get an estimate of my Derbyshire pension?
You can use our online pension calculator at any time to get an estimate of your pension benefits from Derbyshire Pension Fund, or if you are close to retirement, you can ask us to work out an estimate which we’ll send you through the post.
How old do you have to be to use pension calculator?
Our online pension calculator has been designed for use by active members of the fund. It enables active members to instantly project benefits to any given retirement date between the ages of 55 and 75.
How can I find out my pension details?
View your pension details and calculate your benefits. Helpful documents and forms for members of the pension scheme. Answers to common questions to help you quickly. Members who are currently paying into the pension scheme.