On reaching your Normal Retirement Age (NRA), if you decide to access your pension, you will be paid an income for the rest of your life. The amount you receive will be based on the number of years and months you were a member of the Scheme, your Pensionable Salary and your accrual rate (the proportion of your Pensionable Salary you will receive as a pension for each year of membership).

The administrator of your Scheme will normally contact you up to 6 months before your NRA to provide you with your retirement options so it is important that you keep us aware of any changes in your address.

For more information about your options at retirement or to find out your Normal Retirement Age, contact your administrator, visit Contact us.

Retiring early

If you decide to retire earlier than your Normal Retirement Age (NRA), your pension may be reduced to reflect the fact the Scheme will be paying your pension to you for longer.

You may receive an enhanced pension if you have to retire early due to serious illness or disability. If you’re unable to keep working in any occupation (not just your current job) due to ill-health you might be able to draw your pension early (as long as the Trustee and the Company agree and have received appropriate medical certification).

Ill-health pensions in payment are reviewable and may be stopped or changed at the discretion of the Trustee.

Retiring late

If you decide to access your pension later than your Normal Retirement Age (NRA), your pension may be increased to reflect the reduced years over which your pension will be paid.

For more information, visit Contact us.

Income in retirement

When you access your pension, you’ll receive a pension for life, based on your final pensionable salary and pensionable service. For more information visit Contact us.

Pension Increases

Your pension will be reviewed every year by the Trustee and your pension will generally increase in line with inflation or in accordance with the Rules of the plan, every year.

For more information, visit Contact us.