Can I draw my pension whilst still working for Heathrow?
You can choose to take your pension and continue working for the Company. It can be a gradual way of easing you into retirement, and can support lifestyle changes as you may be able to reduce your hours. This would require that you opt-out of the Scheme, which would be an irreversible decision and you should think carefully before making that choice. If you do opt-out, you will be automatically transferred into our Defined Contribution Plan from the 1st of the next month.
What do I need to do?
Request to opt-out
If you wish to opt-out, you should contact your HR or payroll department.
You will receive a quotation
Retirement figures will be calculated and sent to you, along with details of all the retirement benefit options available and any paperwork for you to complete.
Confirming your choice
If you would like to go ahead, complete the paperwork you received and send it back to the Administration team. You will then receive confirmation of the date your chosen retirement benefits will be paid.
Things to consider
- If you reduce your hours you may take a drop in pay. If your retirement income is small, you could be worse off.
- The way you take your retirement benefits may impact how much you can save in the future.
- The earliest you can receive your State Pension is when you reach State Pension Age but you can consider deferring it. Visit the www.GOV.UK website for more information.
