Can I cash in my Nilgosc pension?
A pensioner may request that their annual pension benefit is compounded and paid as a one off lump sum payment. There are two tests to determine if a compounded lump sum can be paid. A pension can only be commuted from age 55 or earlier if the ill-health condition is met.
What type of pension is Nilgosc?
defined benefit pension scheme
Is Nilgosc a defined benefit scheme?
The purpose of the Northern Ireland Local Government Officers' Superannuation Committee (NILGOSC) is to administer the Local Government Pension Scheme (LGPS) in Northern Ireland. The pension scheme is a defined benefit pension scheme.
What is the average pension in Northern Ireland?
The new State Pension
It will be worth £175.20 per week, but you could get more or less than this depending on how many years of NI contributions you have.