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 have all the information you need to make the right choices. In this short video we’ll explain the tools and support we’ve made available to you. 

We’ll focus on what’s available online.

We know many of you prefer this form of communication.

It also has the benefit of being available 24 hours a day, so you can do your research at a time that suits you.

Let’s start with our Plan website, HPRBP.com.

This contains a wealth of information.

We have also built this section to specifically focus on helping you understand each of the options.

On the website you will find a link to MyPension. 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.

If you’re aged 55 or over you will have, or may soon, receive an Annual Benefit Statement. This summarises your options and the support available to help you plan your retirement.

We have arranged for details of your benefits to be loaded into an online modelling tool. Login details will be on your benefit statement or in your retirement pack from Equiniti.

This tool will enable you to explore and better understand your retirement options, including the potential income you could get under each option.

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. Your data will be refreshed on this modeller each time you receive a benefit statement or receive a retirement pack from Equiniti.

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. Your adviser will take you through your options and consider your personal circumstances.

Remember, before you appoint a financial adviser check that they’re legitimate by searching their details on the Financial Conduct Authority Register

So, remember to visit the HP Plan website and MyPension to help you understand your options. Use the online modeller to give you an idea of the potential income you could get under each option and think about talking to a financial adviser.

Hopefully, we have given you some insight into the support that is available. You will find links to both My Pension and the Retirement Options Modeller on this page.

Thank you for watching.