Retirement

Once you have retired your LGPS pension is paid to you on a monthly basis, on the last working day of every month. You can visit our Pension payment dates page for more information.

Your pension is payable for your lifetime and is increased in line with the Consumer Prices Index (CPI). The increase is based on the September to September change in the Consumer Prices Index (CPI).

As a reminder, if you have resigned from your employment and you wish to claim your pension from age 55, but before your Normal Pension Age, we require a minimum three month notice period from you in order to release your pension benefits - please email your notice to info@berkshirepensions.org.uk

Payment of your lump sum

The payment of any tax-free Lump Sum Retirement Grant, if applicable, together with arrears of Annual Pension that may be due will be paid to your specified account on the next available payment run following your pension commencement date. 

A retirement grant lump sum is tax-free.

Income Tax

Your LGPS pension is a taxable income, therefore we will be notified of your tax code by HMRC and any tax will be deducted at source by the Berkshire Pension Fund payroll team. Tax code notifications are received from HMRC directly to the Berkshire Pensions payroll team.