normal retirement

Around 3 months before your Normal Pension Age (NPA) the Administration Team will write to you to let you know what your retirement options are. Most members have an NPA of age 62, but for some members this will be different. You can find out what yours is by contacting the Administration Team.

Your normal options are:

  • No tax-free cash and an annual pension


  • Maximum tax-free cash and a reduced annual pension


  • A tax-free cash amount of your choice (that is less than the maximum) and an annual pension that is reduced accordingly

Normally, under current tax law the maximum tax-free cash is roughly equal to 25% of the overall value of your pension benefits, but it may be restricted to meet minimum pension requirements.

Your pension is payable for life, and part of your pension may increase each year in line with inflation, subject to the Fund’s Trust Deed and Rules. Further details will be provided in your retirement quotation.

The Fund provides access for members to the Pension Decision Service (PDS) which offers guidance on the retirement options available to you. You will be sent information on the PDS as part of retirement quotes issued to you. You can find out more information here.