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For members of the Local Government Pension Scheme in England and Wales

Lump sum calculator

25%

Overview

When you take your pension you will be able to give up some of it for lump sum, up to a certain limit. For every £1 of pension you give up you will get £12 of tax free lump sum. Use this calculator to check how much lump sum you can take and how this affects your pension.

When you take your pension your pension fund will ask you if you want to give up some of your pension for lump sum. The maximum tax-free lump sum is generally 25% of the capital value of your pension benefits.


How this tool works


50%

Pension details

* Denotes a required field

Please enter a valid value for Yearly Pension.
? The value of your pension at the date you want to take it.
? The value of your automatic lump sum at the date you want to take it. You will only have an automatic lump sum if you were a member of the LGPS before 1 April 2008.
? Maximum is 25%
100%

Next steps

Giving up pension for lump sum will reduce your regular income when you stop working. You may want to take financial advice before making a decision.


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