LGPS retirement: is a larger lump sum or pension better?

[Pollypensions]

I live by myself and get state pension . I am retiring next month and will have an LGPS pension. ( I am taxed quite heavily at moment but wanted to work)Is it better to go for large sum and small pension or the other way round.
i am 67 and also get a small works pension from my late husband.
I have tried to phone our payroll to ask questions but they can’t give answers- I just wanted to know if the lump sum is tax free and if I went for a lump sum and roughly the £10000 pension - how much would I get a month.

I went for no lump sum and a larger DB pension. On paper the rate they offered me was less than ideal (and less than you’d get by reversing the ‘bigger lump sum’ calculation) but my family are generally long lived and it’s working out well so far.

I had a appt with them some years ago. To be honest they just went through my options which I knew and then say its up to you.

There is an excellent local government pension group on Facebook with some expert advisers. This question is asked almost daily there. As others have said, it depends whether you have kids, other savings, what outgoings, what tax band etc. I get the impression on there that a lot of people opt for a higher lump sum as they’re able to invest and pass on but this might not be the right option for you.

It’s called LGPS Information and advice.