Rule of 85 Protection

An example of a member with full protection
 
A member reaches age 62 on 31 March 2016 at which time he will have 23 years’ service.
 
As he was born before 1 April 1960, and joined the Scheme before 1 December 2006, he meets the Rule of 85.  His whole pension is protected and will not be reduced for early payment.
 
His pension will be calculated in three parts. Firstly, in respect of LGPS 1998, secondly in respect of the LGPS 2009 and finally in respect of the new Scheme:
 
 
LGPS 1998 Benefits
16 years membership
Pension (16/80 x £18,000)
 
Automatic Lump Sum (3 x 16/80 x £18,000)
£3,600
 
£10,800
LGPS 2009 Benefits
6 years membership
Pension (6/60 x £18,000) £1,800
LGPS 2015 Benefits
1 years membership
CARE Pension £367
 
 
 
 
 
 
 
 
 
 
 
The member’s total annual pension is £5,767 with an automatic lump sum of £10,800 (which can be increased by swapping annual pension for a bigger lump sum).
 
A member may also have partial protection depending on their circumstances.