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Lump sum life cover

Active member Active member (You are still paying into a scheme)
Deferred member Deferred member (You have benefits on hold)
Suspended ill health Suspended ill health (You had been drawing TIER 3 ill health pension which is now on hold)
Retired member Retired member (You are drawing a pension from us)

Active member:

3 x your pay (assumed pay)

Deferred member:

If you left before 1 April 2008

3 x value of your yearly deferred pension

If you left on or after 1 April 2008

5 x value of your yearly deferred pension

Suspended ill health member:

If you left before 1 April 2008

5 x value of your yearly deferred pension less the pension & lump sum already drawn

Retired member:

If you left before 1 April 2008

5 x value of your yearly pension less the pension already drawn

If you left between 1 April 2008 – 31 March 2014

10 x value of your yearly pension less the pension already drawn

If you left on or after 1 April 2014

10 x value of your yearly pension less the pension already drawn and any lump sum taken by giving up some career average pension

We can’t pay a lump sum if you are 75+ when you die.

Warning

If you have multiple memberships there may only be one lump sum life cover payment. Here are some examples...

Examples of lump sum payments for multiple memberships
You pay into the LGPS for 2 jobs, either with ourselves or a different local authority fund Two lump sums
You pay into LGPS with ourselves but also have deferred benefits with ourselves or any other LGPS fund One lump sum - whichever is greatest
You pay into LGPS with ourselves and are also drawing an LGPS pension One lump sum - whichever is greatest
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