Human Resources

Retirement - Local Government Pension Scheme

If you are considering retirement and are, or have been a member of the Local Government Pension Scheme, you should discuss your retirement options with your Line Manager and Dean or Head of Professional Service.

Please see the information below which you may find helpful.

Types of retirement

I am considering retiring, what are my options?

Information about retiring early and retiring on or after your normal pension age.

Can I take my pension and continue working without a break in my employment?

Flexible Retirement allows someone to continue working but reduce their earnings due to part time work or a reduction in their responsibilities and be able to withdraw their pension to substitute their loss of income. To be eligible to claim Flexible Retirement, you must be age 55 or over. It is at the discretion of the University whether to grant Flexible Retirement. 

You can find out more information about flexible retirement in the University's Discretions Policy.

Can I be re-employed after retirement?

If you built up any pension in the LGPS before 1 April 2014, take payment of that pension and are re-employed after retirement, with an employer who offers membership of the LGPS, you must tell the LGPS fund that pays your pension about your new job.

Estimates

How can I get a pension estimate?

You will need to contact Pension Services at Hampshire County Council for an Estimate Request Form if you would like to see how much your pension would be on retirement. Alternatively, you can email pensionenquiries@port.ac.uk and they will request an estimate on your behalf.

Please note, if you are interested in Flexible Retirement, you need to contact pensionenquiries@port.ac.uk in order for the University to request an estimate on your behalf.

How to apply

How do I apply for my pension benefits on or after my normal pension age?

You will need to notify your Line Manager of your intention to retire, in writing, with a copy to HR. Submit your resignation in accordance with your contractual notice period although a longer period of notice may be appropriate to ensure there is no delay in the payment of pension benefits. You can find further information on our webpage Leaving the University.

To apply for your pension, the Retirement Declaration form will need to be completed. It’s recommended that you complete the form no earlier than 3 months before the date you want to retire.

How do I apply for my pension benefits before my normal pension age?

You can choose to retire on or after age 55 but you will suffer a permanent reduction in your pension benefits. You will need to notify your Line Manager of your intention to retire, in writing, with a copy to HR. Submit your resignation in accordance with your contractual notice period although a longer period of notice may be appropriate to ensure there is no delay in the payment of pension benefits. You can find further information on our webpage Leaving the University.

To apply for your pension, the Retirement Declaration form will need to be completed. It’s recommended that you complete the form no earlier than 3 months before the date you want to retire.

How do I apply for Flexible Retirement?

If the University consents to your Flexible Retirement request, you will be given a Retirement Declaration form to complete.

Where can I get help?

When making financial decisions that affect your future it’s always best to seek independent financial advice. You can get information from www.unbiased.co.uk or guidance from the Pensions Advisory Service.