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Retirement process

We are currently building out and enhancing the way we take members through the retirement process.

Choosing how and when to take your pension is a big decision. One that will most likely affect you for the rest of your life!

As your Plan Trustee, we want to ensure that you’ve all the information you need to make the right choices. We have made important tools and support available to you.

Our Plan website contains a wealth of information specifically focused on helping you understand each of the options. You’ll also find a link to ‘My pension’. This is the secure area which holds your pension record. Here you can:

  • Check we have the right contact details for you; and
  • Run retirement estimates at whatever dates you would like to consider taking your pension from.

Most Deferred members aged 55 or over will receive an Annual Benefit Statement this year. These are scheduled to be issued in batches over the coming months. This not only summarises your options but is a key to even more help and support. We will also arrange for details of your benefits to be loaded into an online modelling tool provided by Aon at the same time as you receive your Benefit Statement.

This tool will help you understand how your Plan pension works and will give you information on options outside the Plan which may be suitable for some members.

Even if you are not considering retiring for a few years its worth investing a little time now to understand the different options available to you.

If, having looked at your options on the modelling tool, you think you may like to consider taking your benefits now, you should really think about talking to a financial adviser. They can answer any questions you may have and then help you through the process.

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