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In September 2020, the Government re-confirmed its plan (originally made in 2014) to increase the minimum age from when a person can take payment of their pension from 55 to 57, with effect from 2028. The changes will apply to most pension schemes. including the LGPS.
We know that this change could impact your future decisions, particularly if you’ve reached your 55th birthday but not your 57th around the cut-off point. However, we don’t currently have any further details about how the government intends to implement this change and whether they’ll apply any special transitional provisions.
We’ll keep you updated in future newsletters as the government’s policy in this area develops.
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