This page is designed specifically for your Scheme to try and answer as many relevant questions you may have about your Pension account.
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How do I get in contact with the Scheme administrators?
Please go to the Contact Us page for details of how to contact the administration team.
How can I inform the administrators that I have moved?
What is the Scheme's Normal Retirement Age?
This is age 65.
I am approaching age 65, when will I be provided with information about my retirement options?
Provided we have your current contact details, Aon will contact you to find out what your retirement intentions are at least three months before age 65.
I do not want to take my pension at age 65, what are my options?
You can elect to put off taking your pension until later but please give at least three months notice when you do decide to take your pension. You must take your pension before your 75th birthday.
You can request to retire earlier than your Normal Retirement Age of 65. To do so please contact the Scheme administrators at least 3 months prior to your requested early retirement date.
If you choose to retire early, your pension will be reduced to reflect the fact that it is expected to be paid for longer. The early retirement reduction terms will differ depending on whether you retire from active status (ie you are still paying contributions) or if you are a deferred member (ie have left employment and/or withdrawn from paying contributions).
Is the minimum age at which I can take my retirement benefits likely to change in future?
The current minimum age is 55.
However, the Government is proposing to raise the minimum early retirement age from 55 to 57 by 2028. It is likely to increase in line with the State Pension age so that it remains 10 years below it. It may still be possible to retire earlier than the minimum age on grounds of ill health.
I no longer work for the company but have a pension. I have never received an annual statement of my final salary benefits. Why?
For members with final salary benefits, the benefits are calculated at the date of leaving service or the date at which benefits stopped being accrued and members are issued with a preserved benefit statement at that time. Annual benefit statements are not produced as the benefits remain unchanged until you retire when they are revalued in line with the Scheme rules.
Can I transfer out my pension?
You can transfer your pension at any time before you retire. If your transfer value is £30,000 or more you must be advised by an Independent Financial Advisor.
I would like to update my beneficiaries.
Please complete a new Expression of Wish form. This can be found within the Scheme Library.
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