Delayed retirement

You may wish to delay your retirement until after your NRD. If so you would continue to work until you notify the Company or they notify you. Your benefits must be taken by age 75. Alternatively you can draw your pension and tax-free cash at 65 and continue working.

Flexible retirement

You may apply for Company consent to continue working at the same time drawing your pension This option is designed to help people who wish to ease into retirement by moving to a part-time or reduced role, without a significant effect on their personal finances.

If you do take Flexible Retirement you can apply to re-join the Plan again and start paying contributions into a new Pension Account to build up future pension benefits and maintain your life assurance cover. Life cover will only be maintained if you rejoin the Plan immediately; in other circumstances you will be asked to complete a medical declaration and your life assurance benefit may be restricted.

We will send you a statement of your Pension Account and your retirement options shortly before your planned retirement date. If you plan to retire before Normal Retirement Date you must give the Company as much notice as possible about when you want to retire.

Date of early retirement:
Employee fund:
AVCs fund:
Employer fund:
AVCs bonus fund:
Employer bonus fund:
Total fund at retirement:
Total gross annual pension payable:
OR: Tax-free cash sum:
AND: A residual annual pension: