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Get an estimate

How do I get an estimate?

If your retirement date is imminent (within the next 6 months) please contact your employer and ask them to request an estimate of benefits for you. They will be able to provide us with the accurate pay figures we need to calculate your pension benefits.

If your retirement date isn’t imminent (not within the next 6 months), please refer to your latest Annual Pension Statement for details of your projected pension benefits. If you don’t have a copy you can download one from your online pension record or ask us to post one to you.

  • We have provided details below of reductions that would currently apply to pension benefits if you are looking to retire before your normal retirement date (NRD). You can apply these reductions to your own benefits by looking at the current figures on your Annual Pension Statement.
  • The percentage reductions to benefits quoted below have been calculated in accordance with the current Government Actuary's Department (GAD) guidance. The reductions that are actually applied to your benefits will be based on the GAD guidance applicable at the date of your retirement.
  • GAD guidance is being reviewed early in 2019. This means reduction factors that we use in calculating your benefits will change from early 2019. If you retire after the new reduction factors are implemented your benefits will be based on the new factors.
  • We won’t know what the revised reduction factors will be until GAD have completed their review.

A – For any membership you have up to 31 March 2008- ASSUMING YOUR UNREDUCED PAYMENT DATE for these benefits IS AGE 600

These examples show the typical reductions. You can see what effect waiting a little longer (three years in these examples) before taking your benefits has on the reductions.

If you retire at age 55

  • Pension for males reduced by 24%
  • Pension for females reduced by 22.7%
  • Lump sum for both reduced by 13.7%

If you retire at age 58 instead

  • Pension for males reduced by 10.8%
  • Pension for females reduced by 10.1%
  • Lump sum for both reduced by 5.7%

B – For any membership you have between 1 April 2008 and 31 March 2014 - ASSUMING YOUR UNREDUCED PAYMENT DATE for these benefits IS AGE 65

These examples show the typical reductions. You can see what effect waiting a little longer (three years in these examples) before taking your benefits has on the reductions

If you retire at age 55

  • Pension for males reduced by 40.6%
  • Pension for females reduced by 38.9%

If you retire at age 58 instead

  • Pension for males reduced by 31.4%
  • Pension for females reduced by 29.8%

C– or any membership you have from 1 April 2014 – ASSUMING YOUR STATE PENSION AGE IS 67.

Your unreduced payment date for these benefits will be the same as your State Pension Age. This will currently be between age 65 and age 68. If your state pension age increases before you actually retire your pension reductions will also increase. If your state pension age is earlier than age 67, when you retire your benefits will be reduced by a bit less than the percentage reductions shown in the examples below. If your state pension is later age 67, when you retire your benefits will be reduced by a little bit more than the percentage reductions shown in the examples below.

If you retire at age 55

  • Pension for males reduced by 47%
  • Pension for females reduced by 45.5%

If you retire at age 58 instead

  • Pension for males reduced by 37.7%
  • Pension for females reduced by 36.1%

But, remember that your benefits will be calculated using the LGPS and HMRC rules in force at the time you actually retire.

If, after looking at the examples of the effects on your benefits, you decide you still want us to supply an estimate you may be charged £60 (including VAT) per estimate. Any charges would need to be paid before the estimate(s) will be processed.

Remember that you will receive a statutory Annual Pension Statement every year which will show the increased value of your benefits since your last statement.
Next year’s statement will show pension benefits due to you at age 55, age 60 and at state pension age. This should make it easier for you to assess what your benefits will be at any given date.