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Freedom and choice

Government reforms in April 2015 have introduced greater flexibility in the way that individuals aged 55 and over can access any Defined Contribution (DC) pension savings that they may have.

The Local Government Pension Scheme (NI), (LGPS (NI)), is a public sector Defined Benefit (DB) scheme and this means that the flexibilities being introduced by ’Freedom and Choice’ do not impact on how our members can take their benefits.  However, there are some indirect changes that will impact on any LGPS (NI) members who are considering transferring their LGPS (NI) Defined Benefit rights to a DC arrangement offering ‘flexible benefits’.

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