Under the regulations an entitlement to deferred benefits exists if you have more than 2 years qualifying LGPS membership.

If you first joined the LGPS before 1 April 2008 your deferred pension will be calculated in three ways.

1. Firstly, your scheme membership before 1 April 2008 will provide a pension equal to 1/80th of your full time equivalent final pensionable pay for every full and part year built up.
2. Your scheme membership built up from 1 April 2008 to 31 March 2014 will provide a pension equal to 1/60th of your full time equivalent final pensionable pay for each full and part year built up.
3. Finally, for each year in the scheme you have built up from 1 April 2014 you will be provided with a pension equal to 1/49th of the actual pensionable pay you received in each scheme year unless you elected to enter the 50/50 section of the Scheme at any time in which case you will be provided with a pension equal to 1/98th of the actual pensionable pay received during your membership of the 50/50 section.

Membership built up prior to 1 April 2008 will provide an automatic tax-free lump sum, normally equal to three times the value of your 80ths pension. LGPS membership built up afte 1 April 2008 will not provide an automatic lump sum. However, you do have the option of converting part of your total annual pension into additional tax-free cash, subject to HM Revenue & Customs limits, at retirement.