Following the Government's announcement on Friday 12th February 2021, the Public Sector Exit Payments Regulations 2020 which introduced a £95k cap on public sector exit payments will now be revoked.
Feb 12, 2021
Public Sector Exit Cap
This means the exit cap no longer applies with effect from 12th February 2021.
From this date, if you lose your job because of redundancy or business efficiency, provided you are aged 55 or over and you meet the 2 year vesting period, your LGPS retirement benefits are payable immediately without any early retirement reductions.