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Deferred benefits

What are deferred benefits?

If you have been a member of the scheme for more than 2 years and you leave before you can take immediate payment, the benefits you have are deferred. The benefits are then held in Warwickshire Pension Fund until the earliest date at which they can be paid.

 When can it be accessed?

The deferred benefit will remain in the scheme and can be accessed from age 55. Between your date of leaving and the point the pension is paid it will be protected against inflation, but you are not able to pay extra into the pension when it is deferred.

You can transfer your deferred benefit into any other qualifying pension scheme.

Ill health

If your health deteriorates to such an extent that you are unable to work while your benefit is still deferred, you can apply to your former employer to bring your benefits into payment on grounds of Ill Health.

Have you paid into the scheme?

If you have been paying into the LGPS for more than 2 years, across England and Wales, not just with Warwickshire Pension Fund and you are under age 60, you would normally be automatically awarded a deferred benefit on leaving the scheme.

If you left the scheme between 1 April 2004 and 31 March 2014: a deferred benefit was awarded if you paid into the LGPS for more than 3 months.

Can I re-join the scheme?

If you re-join the LGPS, either with Warwickshire or anywhere else in England and Wales, you will be offered the chance to combine your deferred benefit with your new ongoing pension account.