Early retirement

If you retire between 55 and 59, there will be a reduction in the amount you receive. You can take your pension from 60 without a reduction in your benefits, or from 50 if you leave because of redundancy. Visit My Retirement Planner to find out more.

The process

  1. 1.

    Visit My Retirement Planner at any time to understand more about your retirement benefits and when you can retire.

  2. 2.

    Tell your line manager and HR in good time and in line with your notice period.

  3. 3.

    Up to 12 months before your retirement date, give your resignation notice.

  4. 4.

    12 months before your early retirement, we’ll write with details of:

    1. your Scheme benefits 
    2. your retirement options
  5. 5.

    Two months before your retirement date we'll send you a final retirement quote and forms to complete.

  6. 6.

    Return these with your birth certificate, and marriage or decree of divorce if applicable.

  7. 7.

    We’ll pay your pension on the 15th of the month once you’ve retired. If you’re taking a lump sum, this is paid from the first Friday after your retirement date.

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