How do I apply for my benefits if I’m paying in? 

If you wish to retire and are paying into the Scheme, you should get an estimate using the My Pension Online service.

If you are currently paying in to the Scheme, let your employer know at least four weeks before your retirement date.  
On receipt of the relevant retiral information from your HR/Payroll department, we will advise you of your benefits and options which you will be able to complete via the My Pension Online service.

You can request payment of your deferred pension benefits through My Pension Online. You can watch a video showing the process of getting an online estimate then requesting payment for those who are approaching age 55 or over. 

Get an estimate

The information used within the My Pension Online service is identical to the information held on the pension administration service so it is the same information as would be provided within any Fund estimate. For members currently paying into the Scheme, the information we hold is based on the information your employer provided and is not updated when providing estimates and will only be requested at the time of retiral unless there has been an error.

Step 1

Sign in or register for My Pension Online.  You will also find a video to show you how to use the calculator.


Step 2

Go to Pension Benefit and choose Benefit Projectors then Voluntary Retirement from age 55.


Step 3

Change the date to when you want to receive your pension and amend the pay if necessary. Click calculate.


Step 4

Your figures for that date will be shown and along with any reduction that may have been applied for early payment.

 

The estimate will be based on the information held for you by the Fund, so it is important that you check your pay and other details are correct. Your employer is only asked for final figures on actual retirement or where you find an error.  Any reduction for early payment will be included in the information shown.  Please note:  AVCs are not included as the value of these are not known until retirement, these will be added when you retire. 

You can also get a projection of your pension under redundancy or interest of efficiency online. However, if you are looking for a formal estimate for ill-health, redundancy, interest of efficiency or flexible retirement, you should request this through your employer. The Fund is unable to provide these types of projections directly to members.

 

Your annual benefits statement shows your benefits estimated at your Normal Pension Age (NPA) (equal to your State Pension Age).  Your benefits may be reduced if you take them before your NPA.

Tell your employer when you are retiring


Once you have decided you are going to retire you should tell your employer. Your employer will let the Fund know the date of your retirement and provide your final pay. 

We expect to be informed at least 4 weeks prior to your retirement but there can be delays. 

Occasionally you may need to contact your employer to remind them to send the forms in for a retirement as any delay can mean you receive your benefits late.

Once your employer lets us know you are retiring, we will send you an email to let you know you can choose your benefits using the online service. Go to www.lpf.org.uk/online and you will see retirement tasks to complete including choosing your pension and lump sum benefits.

Once you reply with all the information requested, any lump sum will be paid into your bank account and your pension payments begin at the next pay period. Pensions are paid in arrears on the 15th of the month so if your retirement date is close to this date, you will receive this with your second pension payment.

My Pension Online