Pension Plan of Savills

Frequently Asked Questions

This page is designed specifically for your Plan to try and answer as many relevant questions you may have about your Pension account.

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FAQs

My FAQ

Who do I contact if I have questions about the Plan?
- Please go to the Contact Us page for details.
How can I inform the administrators that my personal circumstances have changed?
- If you have moved home or changed marital status including change of name, please go to the Contact Us page for details of how to get in touch.
What is the Plan's Normal Retirement Age?
- This is age 60.
I am approaching age 60, 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 60.
I do not want to take my pension at age 60, 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.
What is the minimum age at which I can take my retirement benefits?
- 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 the link to basic salary was broken. 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 Plan rules.
Can I transfer-out my pension?
- You can transfer your pension at any time before you become a Plan pensioner. If your transfer value is £30,000 or more, you must be advised by an Independent Financial Advisor.
I would like to update my Lump Sum beneficiaries
- Please complete a new Expression of Wish Form
Where can I find more information about the Plan?
- The Pension Plan booklet provides lot more information.
What is the Pay Date for my Pension?
- The normal payment date is the 1st of the month. If the 1st falls during the weekend, payment will be made on the closest workday.
When do I receive a payslip?
- Payslips are provided when your net pay changes by £10 or more and on 1 April.
Where is my P60?
- Your 1 April payslip also contains your P60 information.

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