Are you thinking about taking a lump sum when you retire?
- If you joined the LGPS before 1 April 2009, you will have an automatic lump sum
- You can swap part of your pension to provide a lump sum
- If you have paid additional voluntary contributions (AVCs) you can take some or all of the AVC fund as a lump sum.
Use the Lump sum calculator to see how your pension is affected if you swap some of it for a lump sum. You can now use this calculator if you want to take all or part of your AVC fund as a lump sum.
Use the Maximum AVC lump sum calculator to estimate the maximum AVC you could take as a lump sum when you take your LGPS pension.
The lump sum will be paid tax-free to most members. There is a limit on how much cash you can take from UK pension schemes before you have to pay extra tax. Visit the Tax page to find out more about the lump sum limits.