You will be able to exchange part of your retirement benefits for a tax free cash sum on retirement.

The amount of the cash sum depends on your circumstances but is typically about 25% of the total value of your annual pension, subject to the consent of the Trustees. The rates used to calculate the value of your pension are determined by the Trustees on advice from the Scheme’s Actuary and may change from time to time.


Crown Service members ONLY
In addition to the total pension amount, a tax free cash sum of 3/80ths of your Final Pensionable Pay for each year of your Pensionable Service. If you did not contribute towards an Adult Dependant’s pension in a Former Scheme or you do not have a full contribution record, this lump sum benefit will be reduced by the WPS debt.  If you wish to pay off your WPS debt before retirement, please contact the Pensions Service Centre.