Added years
If you are paying extra contributions to buy membership or added years, you will be credited with the extra years of membership that you have paid for. This extra membership is included in your membership built up in the LGPS before 1 April 2014. See the section on How your pension is worked out to find out more about how that extra membership will increase your pension benefits.
If your benefits are reduced due to early payment when you take them, then the benefits related to the added years you have bought are also reduced. The reduction is based on the Normal Pension Age that applies to the benefits you built up before 1 April 2014.
If you take your pension after age 65, the benefits related to the added years that you have bought will be increased because they are being paid late.
If you retire due to redundancy or business efficiency and you have an ongoing contract to buy added years, you will have an opportunity to pay the remaining contributions to complete the contract.
Flexible retirement
What happens to your added years when you take flexible retirement depends on what date you elected to start the added years contract.
If you elected to start the added years contact before 1 October 2006, you will be credited with the extra years you have paid for. If the added years contract is ongoing, it will stop. The extra years will increase the value of the benefits paid on flexible retirement.
If you elected to start the added years contract after 30 September 2006, you can choose whether to take all or none of the benefits related to the added years you have bought. If you choose not to be credited with the extra years when you flexibly retire, the added years contract will continue. If you choose to be credited with the extra years of membership you have bought and the added years contract is ongoing, it will stop.
You cannot start another added years contract. See Paying more for information about other ways you can pay extra in the LGPS.