Freedom and Choice in Pensions Factsheet

Pensions Freedom

What it means for members of the Local Government Pension Scheme

The government has announced from April 2015 individuals from the age of 55, with a Defined
Contribution pension, will be able to access their entire pension flexibly if they wish. Therefore
in addition to the option of using pension funds for a regular income in retirement, members
can withdraw their entire pension savings as cash, although part of this would be subject to
tax.

This factsheet provides a few details on these options.