Thinking of Retirement
Although the normal retirement age for councillor members in the Local Government Pension Scheme (LGPS) is 65, you may not wish to perform the duties of your office until this age. You may decide to retire earlier and as a councillor member of the Local Government Pension Scheme, this option is available to you.
Sometimes it is a necessity rather than a choice to retire early because of deteriorating ill health and in these circumstances, your LGPS benefits can provide you with an immediate retirement pension, which could even be enhanced.
Tax controls on pensions
There are two HMRC controls on the amount of pension savings you can have before you become subject to a tax charge. This is over and above any tax due under the PAYE system on your pension once it is in payment. More information on tax controls can be found on the Tax controls on pensions document.