• Skip to primary navigation
  • Skip to main content
  • Skip to footer

City and County of Swansea Pension Fund

  • Home
    • Introduction
    • Member Self Service – My Pension on-line
    • Links
    • Disclaimer
    • Contact Us
  • Current Employees
    • Joining the LGPS
      • How much will it cost?
      • Transferring Previous Pension Benefits
    • During Membership
      • Additional Voluntary Contributions (AVCs)
      • Absence from work
      • Divorce/Dissolution of Civil Partnership
      • 50/50 Section
      • Protecting Pension Benefits
      • Increasing Benefits with Additional Pension Contributions
    • Membership before 1 April 2014
    • Leaving the Scheme
      • Options
      • Freedom and Choice
    • Retirement
      • When can I retire?
      • Calculating Your Benefits
      • Commutation
      • Normal Retirement
      • Early Retirement
      • Late Retirement
      • Ill Health Retirement
      • Redundancy/Efficiency
      • Flexible Retirement
    • Death in Service
      • Death Grant
      • Survivor Benefits
      • Children’s Pensions – Death in Service
    • Protecting Pension Benefits
    • Internal Disputes Resolution Procedure (IDRP)
    • Member guide – A short guide to the Local Government Pension Scheme (LGPS)
    • Forms and Literature
  • Deferred Members
    • Membership before 1 April 2014
    • Left on or after 1 April 2014
    • Transferring your Benefits
    • Ill Health
    • Death in Deferment
      • Death Grant
      • Survivor Benefits
      • Children’s Pensions – Deferred
    • Change of Address
    • Internal Disputes Resolution Procedure (IDRP)
    • Member guide – A short guide to the Local Government Pension Scheme (LGPS)
    • Forms and Literature
  • Pensioners
    • How do I retire?
    • Payment of Pension
    • Income Tax
    • Payment Dates
    • Pensions Increase
      • Pensions Increase and the link with the State Scheme
    • Change of Address or Bank Details
    • Death in Retirement
      • Death Grant
      • Survivor Benefits
      • Children’s Pensions – Pensioners
    • Tracing Previous Pension Rights
    • The State Pension
    • Internal Disputes Resolution Procedure (IDRP)
    • Member guide – A short guide to the Local Government Pension Scheme (LGPS)
    • Forms and Literature
  • Councillors
    • Joining the Scheme
      • How much will it cost?
      • Transferring previous Pension Benefits
    • Leaving the Scheme
      • Refund of Contributions
      • Deferred Benefits
      • Transferring your Benefits
    • Retirement
      • Calculating your Benefits
      • Commutation
      • Normal Retirement
      • Early Retirement
      • Late Retirement
      • Ill Health Retirement
    • Death Benefits
      • Death in Office
      • Death in Deferment
      • Death in Retirement
    • Internal Disputes Resolution Procedure (IDRP)
    • Member guide – A short guide to the Local Government Pension Scheme (LGPS)
    • Forms and Literature
  • Employers
    • Administration Documents
      • Pension Administration Strategy
      • Communication Policy Statement
      • Customer Service Charter
    • Automatic Enrolment
    • Presentations and Seminars
    • LGPS Regulations
    • Internal Disputes Resolution Procedure (IDRP)
    • Secure Employers’ Area
      • Employer Guidance Manual
      • Local Government Association
      • Employer Forms
  • Investment and Fund
    • Funding Strategy Statement
    • Investment Strategy Statement
    • Actuarial Valuations
    • Annual Report & Accounts
    • Communications Policy Statement
    • Pension Fund Data Quality
  • News
    • Videos – Pensions made simple by the LGPS
  • English
    • Cymraeg
You are here: Home / Councillors / Leaving the Scheme / Deferred Benefits

Deferred Benefits

If you have at least 3 months LGPS membership, your accrued benefits i.e. your pension and lump sum, will be calculated using your total membership up to the date you left the Scheme. This is known as a Deferred Benefit.

Deferred benefits become payable at age 65 (unless you opt to defer payment beyond that age), but may be put into payment at any age earlier than 65 in the event of ill health, without reduction.

You can also elect to receive your benefits early, on or after age 50 and before age 60 with your Council’s consent, or at or after age 60, without your Council’s consent. Your benefits will be reduced if paid before age 65 to take account of early payment (unless being paid on the grounds of permanent ill health). Your former Council will have discretion to waive any reduction on compassionate grounds.

Please note, that if your council gives their consent to pay your benefits before age 55, it may result in a tax charge on your benefits which would be in addition to the normal PAYE tax on your monthly pension.  Payment of benefits on or after age 55 will not result in this additional tax charge.

It may be possible to make a transfer payment to an overseas pension scheme or arrangement that meets HM Revenue & Customs conditions.

Footer

Contact information

Pension Section
Civic Centre
Oystermouth Road
Swansea
SA1 3SN
01792 636655
pensions@swansea.gov.uk

Privacy notice

Latest news

  • Pension fund on course to hit green target
  • Government Implements £95K Cap on Exit Payments
  • Age descrimination court case and the LGPS
  • Pension fund set to invest in green energy production
  • Coronavirus (COVID-19) FAQs for LGPS members

Log In (Employers Only)

Please log into the site.

Return to top of page

Copyright © 2021 City and County of Swansea Pension Fund

  • English
  • Cymraeg