Retirement

It is possible to receive a Trivial Commutation Lump Sum, if the combined value of all your pension benefits held in registered pension schemes is less than £30,000.  This must include the value of any pensions already in payment.

To clarify before the payment can be made on the grounds of triviality, you must meet all the criteria stated under option 1 OR option 2 detailed below:

Trivial Commutation Option 1 Criteria

• You must be at least age 55 or over, or if you have pension membership before 6 April 1997, age 60 for a female or age 65 for a male
• Your Lifetime Allowance to date does not exceed £30,000;
• You do not have any other benefits within the LGPS
• You have not received payment of a previous trivial commutation lump sum. If so, it has been paid within the last 12 months

Trivial Commutation Option 2 Criteria

• You must have left the scheme after 31 March 2008
• You must be at least age 55 or over, or if you have pension membership before 6 April 1997, age 60 for a female or age 65 for a male
• The Trivial Commutation payment is less than £10,000
• You do not have any other benefits within the LGPS
• You have not transferred any benefits out of the LGPS in the last 3 years
• If you left the pension scheme before 1 April 2014, you must not have received a transfer into the scheme during the 5 years preceding the date of the commutation payment
• You are not a "Controlling Director" of any employer in the LGPS

You must meet all the criteria under at least one of the options above.

By receiving a Trivial Commutation Lump Sum you, your spouse, co-habiting partner, civil partner or dependants have no future claim to benefit from the Royal County of Berkshire Pension Fund.

If you believe you meet the conditions listed and might wish to receive a Trivial Commutation Lump Sum, as an alternative to a monthly pension please contact the Pensions Team directly on 01628 796 668 or email info@berkshirepensions.org.uk