I want to retire within the next 6 months
Are you starting to think about taking your pension? If you are, you have some important things to consider that will affect the amount of pension you receive from the Scheme.
When exactly do you want to retire?
If you retire before your Normal Pension Date, your pension will be lower as it will be being paid for longer.
How much pension will you need each month
Ensuring your monthly income in retirement is sufficient to meet your financial requirements is an important decision. Before making any decisions you may wish to seek independent financial advice.
Do you want to exchange some of your pension for a cash lump sum?
If you exchange some of your pension, the monthly pension you receive will be lower.
The decisions you make when you retire are important as you could spend more than 30 years in retirement.
If you think you may want to retire and start taking your pension within the next six months (even if you are approaching your contractual retirement age or Normal Pension Date), you will need to inform the Trustee by contacting The Administration team.
They will provide you with all the information you need to know to help you make the right decision for you and your family. You will be provided a quotation of the benefits, along with any forms you will need to complete and details of what you will need to do if you choose to retire.
