{"id":473,"date":"2018-07-25T14:13:55","date_gmt":"2018-07-25T14:13:55","guid":{"rendered":"http:\/\/pensions.cardiffcouncilwebteam.co.uk\/?page_id=473"},"modified":"2019-02-13T13:05:23","modified_gmt":"2019-02-13T13:05:23","slug":"retirement","status":"publish","type":"page","link":"https:\/\/www.cardiffandvalepensionfund.org.uk\/councillors\/retirement\/","title":{"rendered":"Retirement"},"content":{"rendered":"
[vc_row top_padding=”0″ bottom_padding=”0″][vc_column width=”1\/1″][vc_column_text]<\/p>\n
[\/vc_column_text][\/vc_column][\/vc_row][vc_row top_padding=”35″][vc_column width=”2\/3″][vc_column_text]If you have retired from Office, it is possible to retire and take your pension from as young as age 50, up to age 65 and over. In case of ill health there is no age limit. When your pension is paid it will increase every year in line with the cost of living, for the rest of your life.<\/p>\n
You can apply to retire early from age 50. However, if you are aged under 55, you will need Council consent. Council consent is not needed early between age 55 and 65. When you retire early your pension will be reduced for every year you take it early, to take account of the pension being paid for longer.<\/p>\n
You have the option to give up some of your pension to receive a tax free cash lump sum – this is called commuting.<\/p>\n
Full details about retiring and benefits payable can be found in the Councillor Guide (PDF)\u00a0<\/i><\/a>[\/vc_column_text][\/vc_column][vc_column el_class=”siderow” width=”1\/3″][vc_column_text el_class=”boxblue”]<\/p>\n Find details on state benefits and pension. How to get a state pension forecast.<\/p>\n Gov.uk <\/i><\/a>[\/vc_column_text][vc_column_text el_class=”boxblue”]<\/p>\n An impartial service, set up by the Government to give free and unbiased advice. You\u2019ll find some great budget planners and other tools.<\/p>\nState benefits<\/h3>\n
Money Advice Service<\/h3>\n