Flexible retirement is where you reduce your hours or grade, stay in your employment but on reduced hours or grade, and access some or all of the LGPS benefits you have built up.

You can only flexibly retire if your employer allows you to.

Flexible retirement will usually reduce your LGPS benefits.

If you are allowed by your employer to take flexible retirement before age 60, your LGPS benefits will be reduced at least for how much younger than 60 you are, as the Rule of 85 does not kick in until you are 60.

For example, if you were allowed to take flexible retirement at 55, your pension would be reduced by at least 22.2% and your lump sum would be reduced by at least 11.2%.

If you were allowed to take flexible retirement after 60 without full protection under the Rule of 85, your LGPS benefits would be reduced.

You would need to be born before 1 April 1956 to have your LGPS benefits earned up to 31 March 2016 protected by the Rule of 85.

If you were born after 31 March 1956, only your benefits earned up to 31 March 2008 could be protected by the Rule of 85, meaning that your pension earned in the last 13 years would be reduced by 37.7% to 44%, and your lump sum would be reduced by 21.1%.

More information about flexible retirement and the Rule of 85 is available from our Guide to the LGPS in the sections Your Pension and If you Joined the LGPS Before 1 April 2014 respectively.