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This section of the site contains member and pensioner information about the LGPS and the Hertfordshire pension fund

Here you will find, factsheets, newsletters and other publications as well as news of events and links back to relevant sections of the the main Hertfordshire County Council site.



Working Past Age 65

As you may already be aware by working past age 65 your pension benefits receive an actuarial increase applied to the pension benefits you have built up when you belatedly take your benefits to recompense you for the pension being paid for a shorter period.

The Government Actuary Department have now issued revised factors for those who delay their retirement beyond age. These changes come into effect from 4 January 2017 and are significantly reduced from those in place previously. 

The factor for actuarial increase has been reduced from 0.014% to 0.01% for annual pension (for each day worked past SPA) and from 0.007% to 0.001% in respect of lump sums. Actuarial increases for late retirement are calculated based on the factors in force at the ultimate date of retirement, therefore after 4thJanuary this change will apply to all days worked past age 65. This will result in a reduction in the additional pension earned prior to 4th January if a member retires after this date.

Below is an example comparison of the actuarial increases earned by a member whose pension was due into payment on 31/12/2015 but who had delayed their retirement by 1 year, and by 1 year and 1 month in example B (notional values used for example). This illustrates the overall reduction in actuarial increases as a result of the new factors being used in the calculation for a member retiring after 4th January 2017.


Example A


Basic Value

Calculation under existing Factors

Increase for Late Retirement   

Annual Pension


365 days x 0.014% x £11,000


Lump Sum


365 days x 0.007% x £25,000



Example B


Basic Value

Calculation under post 4thJanuary 2017 Factors

Increase for Late Retirement

Annual Pension


395 days x 0.01% x £11,000


Lump Sum


395 days x 0.001% x £25,000


Please note that these new factors will come into effect from 4th January and will apply to all the benefits that have been delayed beyond age 65, for some members this could be a significant reduction.

If you wish to discuss the impact this will have on our own pension benefits please contact the Herts LPP Team on 01992 555466 or email:hertscc@localpensionspartnership.org.uk


Thinking of joining the LGPS?

See our Benefits of the LGPS for a basic overview of the scheme and the benefits you will receive 

For information about the Scheme please see the 'LGPS 2014' tab

Why have a pension?

Pensions might seem complicated but the basic idea is a simple one. Your State Pension – while providing a foundation – may not be enough to live on. You need to save more.




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