Members Guide to Retirement
Should you wish to consider taking your retirement benefits, please contact the Administration Team. Remember to include your employee id and the date you’d like to start taking your benefits from.
The Administration Team will send you a quotation with notes and documentation together with the appropriate forms within 5 to 10 working days of your request. Alternatively you can immediately obtain a quotation from the secure My pension area.
If you would like to proceed, please complete the forms and return them with any certificates (eg birth) as requested.
We will arrange for payment at the appropriate time which will include any AVCs, if you paid them and chosen to take them as part of your package.
The Administration Team will then:
- immediately return any certificates
- disinvest any AVCs if applicable
- pay any lump sum due
- set up your pension benefit, with arrears, if applicable
- confirm your first payment, when made, and what it comprises
- Liaise with HMRC to determine your tax code, and make the necessary adjustments to your payments. Your first instalment will be taxed at Marginal Rate (currently 01150L).
Your regular monthly payments will be paid on the 6th of each month, and your pension will increase at each 6th April as applicable.