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) every April.

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 stating your name, NI number and intended date of retirement.

Payment of your lump sum

If you have claimed a lump sum as part of your pension benefit this will be paid as soon as possible after your retirement date. The payroll team are able to make a BACS payment every Tuesday which means you won't have to wait until the next payday to receive your lump sum. 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.