Considering retirement

Are you considering retiring?
Please note: the following procedure is only definitely available to scheme members working for Barnsley MBC, Doncaster MBC, Rotherham MBC and Sheffield City Council. If you are employed by any of our other scheme employers you will need to first contact your HR department who may follow the same procedure or will have their own procedures to follow.

Voluntary retirement from age 55 onwards

If you are considering early retirement from age 55 onwards, you should first contact us for a retirement estimate, as benefits will (subject to the 85 year rule) be reduced to take into account early payment. Please note voluntary retirement between age 55 and 59 inclusive is a new scheme facility and the rule of 85 protection will not automatically apply in full. Previous scheme protections continue to apply for voluntary retirements after age 60 or for flexible retirements at any age after 55. If after carefully considering all the information you decide to proceed, you will need to request an appointment at one of our local offices where we will go through your retirement options. We will then liaise with all the other relevant departments and the procedure for processing your retirement begins.


Please note: if you are voluntarily retiring between age 55 and 60 you are required to give 3 months’ notice to your employer.
 

Retiring at Normal Pension Age NPA (NPA is equal to your State Pension Age subject to a minimum age of 65)
Approximately two months before your Normal Pension Age we will make contact to ask if you are retiring. If you confirm your intention to retire we will send out a retirement estimate and a guide to the LGPS 'Retirement benefits' booklet. We will also arrange for you to attend an advisory appointment where we will explain your retirement options. Following that the procedure for processing your retirement will begin.
Please remember if you are voluntarily retiring or retiring at Normal Pension Age you are required to give your employer your notice of resignation.

Ill health retirement/redundancy/early retirement from age 55 onwards with your employers consent
Upon notification from your employer confirming your approval for ill health/early retirement, we will send out a retirement estimate and a 'Retirement benefits' booklet. We will also arrange for you to attend an advisory appointment where we will explain your retirement options. Following that the procedure for processing your retirement will begin.

Retirement after Normal Pension Age NPA (NPA is equal to your State Pension Age subject to a minimum age of 65)
Upon notification from you or your employer that you are retiring, we will send out a retirement estimate and a guide to the LGPS 'Retirement benefits' booklet. We will also arrange for you to attend an advisory appointment where we will explain your retirement options. Following that the procedure for processing your retirement will begin.
Please note: your retirement benefits must be brought into payment before age 75.

Pensions advisory service
Please contact the local office based in the area in which you work.

Barnsley:      01226 773161   Doncaster:  01302 737181
Rotherham:   01709 823740   Sheffield:     0114 2735133

Please note: SYPA staff are not registered to give any kind of financial advice. The Pensions Advisory Service is there to explain the options available to members and to assist with the completion of forms.

Before you attend an advisory appointment, you will receive A guide to the LGPS Retirement Benefits booklet which will provide you with more detailed information. Within the booklet are two forms for completion. Form 5 which requires information such as:

   • Personal Details
   • Conversion Options
   • Bank/Building Society Details

Form 5B which requires you to declare any other pensions you receive (excluding State Pensions, Spouses or Dependant's Pensions).

You will also be required to provide, original certificates, depending on your status, such as:
   • Birth certificate
   • Marriage/civil partnership certificate
   • Partner's birth certificate (if married or in a civil partnership) 
   • Decree Absolute/Final Order
   • Death certificate (if you are a widow/widower/surviving civil partner) 
   • Separation order (If separated by a court order)
If you do not receive your retirement booklet before your appointment at the Advisory Service, one will be issued to you on the day.

Service standards
Once we are in receipt of all the necessary documentation to process your retirement, we will work to the standards set out in our Customer Charter.

AVCs
If you pay additional voluntary contributions (AVCs), upon receiving notification that you are retiring, we will request details of your AVC options from Scottish Widows, Prudential or Equitable Life. The date of your appointment will be arranged once we have received your AVC details.                                                                                                                   
 
Please note: we cannot pay your retirement benefits until we have received the funds from your AVC provider. This is to avoid potential over payments. To have a better chance of receiving your lump sum on or shortly after retirement we suggest that you stop paying your AVCs two months before your retirement date.