LPFA Employer Discretions
LPFA as an employer is under a duty to prepare certain discretionary policies. Below are LPFA's current discretionary policies relating to increase of service or pension, early payment of benefits and flexible retirement which may be used as a guide.
Below is a breakdown of the new discretions required under the LGPS 2014, these discretions should have benn made and in place by 30 June 2014. LPFA's draft policies are below and can be used as a guide.
Increase of Service/Pension - During employment or upon leaving
The LPFA will award discretionary added service or additional pension only with the prior approval of the Board and only where there is a clear financial or operational advantage to be gained by the Authority by so doing.
Subject to Board approval, the Authority will award added service or additional pension upon recruitment only if it has experienced recruitment difficulty for the specific post and if the award of such service will secure a suitable recruit.
Early Payment of Benefits Under Flexible Retirement Provisions
Early payment of benefits under flexible retirement provisions following members request to receive all or part of their benefits, after age 55 (or in the case of a person who is a member on 31st March 2008, and who makes such a request before 31st March 2010 after age 50)
A request for early payment of retirement benefits under flexible retirement rules will be permitted only where there is a clear operational or financial advantage to be gained by the Authority by so doing.
Further that any decisions regarding such payment are, within the above policy, delegated to Principal Officers.
Early Payment of Benefits
Early Payment of Benefits on members request after age 55 (or in the case of a person who is a member on 31st March 2008, and who makes such a request before 31st March 2010 after age 50)
A request for early payment of benefits received from a current employee will be accepted only with the consent of the Board and only if there is a clear financial or operational advantage for the Authority in so doing.
A request for early payment of deferred benefits from a deferred member or a deferred pensioner member, other than on grounds of permanent ill-health or compassion, received from a person who was last a member of the Fund as an
A request for early unreduced payment of benefits on compassionate grounds (i.e. waiving of percentage reduction in respect of early retirement on compassionate grounds), will be accepted only where the former member is prevented from full-time working due to the need to care for a dependant.
Further that decisions regarding early payment of deferred benefits are, within the above policy, delegated to Principal Officers.