A ‘bridging pension’

A ‘bridging pension’

For most members, pension payments from the Plan start being paid before they reach their State Pension age.

The bridging pension option allows you to receive a higher pension from the Plan before the State Pension age that applies to on the date you retire from the plan.

In exchange, your Plan pension will be reduced from the State Pension age that applied to you when you retired.

This option broadly ‘bridges the gap’ between retirement and when you’ll reach State Pension age. It does so by helping to even out the differences in your pension income before and after you receive your State Pension.

With the bridging pension option, it may also be possible for you to retire at an earlier age if you have the option to receive a higher Plan pension in the years before your State Pension age.

However, if your Plan pension and/or another income you receive before reaching State Pension age are enough for your needs, then the bridging pension option might not be right for you.

If you’re eligible to apply for the bridging pension option, you’ll find details in any retirement quote sent to you by the Plan’s administrator, Trafalgar House.