Early Retirement Benefits

LAPP has different pension options for members, including the possibility of early retirement before the age of 65. Depending on a person’s health and wellbeing, or just their plans for retirement living, the flexibility to retire early is another good reason why Your Plan has Value.

If you are eligible, you can retire with an unreduced pension as early as age 55. To do that you would have to have 30 years paid service with LAPP (including buying back prior service with another plan), which, added to the age 55, would give you what we call the '85 Factor.' You can achieve your 85 Factor at any age between 55 and 65 and still retire early with an unreduced pension. You can learn more about that under the Your Life with LAPP section at When Can I Retire?

Early retirement isn’t for everyone and it's important to note that another way Your Plan has Value is that as long as you keep working, and your salary and/or years of service continue to increase, your pension benefit will continue to grow. An unreduced pension is not the same as a 'full pension,' although some incorrectly call it that. Your pension will continue to get 'fuller' as long as it is still able to grow with salary and/or service. There is a limit on service after 35 years with LAPP, but not with salary, and as your salary continues to increase so will your pension.

In other words, it's vitally important to make sure you check out all the options before you choose to retire early.

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Discover information and tools to help you understand and manage your LAPP pension through every step of your career.

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Read all about the governance, oversight, and operational functions that ensure your LAPP pension is on track.

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Learn how the LAPP pension fund is professionally managed to provide you with a secure retirement income.

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