Notification of upcoming changes to redundancy or efficiency pension benefits in the LGPS
The government are close to introducing new regulations which will impose a cap on exit packages from the public sector. The legislation applies to public sector exit packages generally, but the major impact of the regulations will be on LGPS members aged 55 or over who currently qualify for an unreduced pension because of redundancy or efficiency retirement.
These changes are likely to be in place before the end of 2020 but we do not know the exact date yet. Details have not been clearly defined in legislation but we will provide an update as soon as we are able to do so.
Please check back on our website at a later date for more information.