It’s important to plan early. Did you know that you may be able to start receiving your pension benefits from the Plan from age 55?
When preparing for your retirement and considering your choices, you should be aware that it may take a few months for your benefits to be calculated and put into payment by the Plan’s administrator, Equiniti. Make sure to allow for this as these are important decisions and shouldn’t be rushed.
Get to know your options
We recommend that you visit the ‘My Benefits’ section of the Plan website and read the ‘It's Time to Decide’ page. This will give you an idea of how you can take your benefits from the Plan. We’ve also produced a video to help you understand your options, which you’ll find in the library section of the website.
Equiniti will send you a retirement pack with a pension quotation around six months before your Normal Retirement Date (which for most people is age 60). This pack will provide you with guidance on what you’ll need to do next to start receiving your benefits from the Plan.
If you intend to retire before your Normal Retirement Date (the earliest is from age 55), we recommend you visit MyPension, your online portal, to see how much pension you could get at retirement, and what your benefit options are.
For deferred members, there’s a link to an online interactive Retirement Options Modeller on the ‘It's Time to Decide’ page. This tool is pre-loaded with details about you and your Plan benefits, so you’ll need to log in.
Alternatively, you can contact Equiniti and ask them to provide you with a retirement quotation:
Telephone:
+44 (0)333 207 6553
(Monday to Friday 9am to 5pm)
Email:
digital@equiniti.com